Australia welcomes agreement to finalise regional trade deal
Australia has welcomed agreement to quickly finalise a landmark deal for trade in our region that will boost export opportunities for Australian businesses
and create more local jobs.
Minister for Trade Simon Birmingham said the Regional Comprehensive Economic Partnership (RCEP) would further integrate Australian businesses into the
world’s fastest growing region.
“Substantial progress has been made with 15 of the 16 RCEP countries committing to finalise minor outstanding matters within months and proceeding to signing
this deal next year,” Minister Birmingham said.
Boosting regional trade and investment ties
Minister for Trade, Tourism and Investment Simon Birmingham will travel to Thailand to progress negotiations on the Regional Comprehensive Economic Partnership
(RCEP) and attend the East Asia Summit with the Prime Minister.
Minister Birmingham said the talks would focus on finalising discussions on a free trade agreement that would further integrate Australia into the world’s
fastest growing region.
“Australia’s exports are at record levels but in a competitive world we must continually seek out new export opportunities for our farmers and businesses,”
Minister Birmingham said
“No other active trade negotiation brings together parties with the collective economic weight of the ASEANs, China, India, Japan, Australia, South Korea
and New Zealand.
Introduction of legislation for Indonesia, Hong Kong and Peru trade deals
The Morrison Government has today introduced the necessary legislation into the House of Representatives for Australia to ratify our free trade agreements with Indonesia, Hong Kong and Peru.
Trade Minister Simon Birmingham said the creation of new export opportunities for Australian farmers and businesses was a key pillar in the Morrison Government’s economic plan.
“These free trade agreements will open new doors and deliver wide-ranging benefits for Australian exporters,” Minister Birmingham said.
Australia and Singapore scope landmark digital economy agreement
Australia and Singapore are continuing to lead the way on digital trade through a landmark agreement that will harness digital transformation and technology
to expand trade and economic ties in our region.
Following discussions in June in Singapore between Prime Ministers Scott Morrison and Lee Hsien Loong, work on a landmark Australia-Singapore Digital
Economy Agreement commenced, with the aim to deepen the bilateral economic relationship, promote greater connectivity and provide ambitious standards
for the region’s digital economy.
Global turbulence: The case for caution
The fact that ongoing global events continue to raise concerns across the business world was the lead topic at GTR’s Commodities 2019 conference in Geneva, where the GTPA argued the case for caution in the face of uncertainty and disruption.
Whether observing events from a macro perspective or more granularly from a country or industry-based perspective, the disruption and uncertainty we are experiencing in the global economic and political environment is making it increasingly difficult for businesses to plan and invest for the future.
The world’s largest international trade finance gathering
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-4, 2019. Recognised as the world’s largest international
gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over
1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and
traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech
experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities
with over 500 different companies.
International trade standards and why they are important for MSMEs
Opinion of: Lisa McAuley, CEO of the Global Trade Professionals Alliance (GTPA)
Standards are the key to consistency in business. They set out the processes, procedures and frameworks to ensure that products, services, processes and people meet a qualified set of expectations. Standards streamline and systematise complexity to provide a level of trust in the best means to achieving an outcome, a capability, a competency or an output.
Standards do far more than just help you comply with the relevant rules and regulations. They play a crucial role in facilitating international trade, supporting businesses into export markets by lowering barriers to trade.
eCommerce Tool: Powering MSMEs to grow internationally via online channels
GTPA announce the development of a new tool to empower MSMEs to engage in online ecommerce
“Today’s MSME is tomorrow’s Microsoft or Alibaba! Every MSME, irrespective of their location or their industry sector needs to be recognised, valued and fostered so that their true potential to achieve greatness can be realised.”- Collins Rex, Asia/Africa Director- GTPA
Exporting online presents exciting opportunities for businesses thinking of expanding into new markets. Online sales are the world’s fasting growing retail channel, globally valued at USD 16.2 trillion.
Op-ed - Trade wars and global supply chains
The United States is the top destination market for Chinese merchandise exports. Soon virtually all Chinese goods imported into the US will be subject to tariffs, with profound knock-on effects for both businesses and consumers.
Escalating trade friction between the US and China is impacting farmers, consumers and businesses large and small. Billions of dollars of Chinese goods now face 25 per cent tariffs when entering the United States.
A fresh opportunity to diversify Australia’s trade
Australia delivered a fresh mandate to incumbent Prime Minster Scott Morrison in the country’s recent federal election. Turned off by the opposition’s high-tax high-spend agenda, voters elected for the Prime Minister’s more practical approach to economic management.
Moderate economic reform should be enough to keep Australia’s economy humming along, though from a trade point of view it is an economy that is still heavily reliant on the export of a few commodities to a few markets.
Uncertainty in the global trading environment, escalating trade tensions, stagnating investment and a looming recession risk combine to make this an opportune time to examine Australia’s trade outlook and explore ways to diversify.
1st International Pan-African Conference on the CHALLENGES OF GROWTH AND SUSTAINABLE DEVELOPMENT IN AFRICA
For many years, the development challenge has been a rich world of one billion people facing a poor world of five billion people. The real development
challenge is that there is a group of countries at the bottom that are falling behind and often falling apart. This has been described by Paul Collier
(2007) as The Bottom Billion. Unfortunately, most of the Bottom Billion countries are located in Africa. For example, Nigeria, a country in Africa,
has been dubbed the current “world capital of poverty”.
Coriolis and the Global Trade Professionals Alliance announce partnership to develop world’s first digital trade database
Coriolis Technologies, the world’s leading source of data and analytics as a service for trade professionals, has today announced a partnership with the Global Trade Professionals Alliance (GTPA), to develop the world’s first digital trade database.
The database will provide more timely and relevant information on global trade flows, allowing users to better understand how global trade is changing as digital technologies and services become more important aspects of supply chains.
The database will be used by banks, governments and the investment community, allowing them to make robust and more informed business decisions with unparalleled insight into the global flows of goods, services and strategic trade.
A win for the Australian wine industry
The Liberal-National Government has today reached an agreement with Canada to remove unfair restrictions on Australian wine sales in the province of British Columbia.
Minister for Trade, Tourism and Investment Simon Birmingham said the Canadian Government had agreed to eliminate discriminatory measures that limit opportunities for Australian wine sales in British Columbia, by 1 November of this year.
“The removal of this discriminatory trade barrier will allow our wine exporters to access retail shelves and compete on a level playing field with Canadian wine in the province of British Colombia,” Minister Birmingham said.
Helping more Australian businesses export to the world
The Liberal-National Government is backing Australian small and medium exporters through a $60 million boost to the export market development grants (EMDG) scheme to help them export more of their products and services to new markets around the world.
Minister for Trade, Tourism and Investment Simon Birmingham said the funding boost for the Export Market Development Grant (EMDG) scheme demonstrated the Government’s strong support for Australian businesses with export ambitions.
“We recognise the enormous contribution our exporters make to the economy, to creating more jobs and that’s why we’re backing them through this scheme,” Minister Birmingham said.
New educational tool to educate students about Australia’s trading history
The Liberal-National Government has launched a new educational tool to teach school students about the role and significance trade plays in driving Australia’s
economy and building strong relationships with our regional trading partners.
Minister for Trade, Tourism and Investment Simon Birmingham said the Australia’s Trade Through Time website will be a vital tool for students and the
Australian public to explore and understand the significant events that have shaped our nation’s trading history.
“It was great to launch this website as part of a Asia Education Foundation Australia-ASEAN Youth Forum at Glenunga International High School, where
students are learning to navigate the often complex trade issues in the ASEAN region.
Australia to help boost digital trade in the Indo-Pacific
The Morrison Government has today launched a new $4.5 million program to help developing countries in the Indo-Pacific maximise the benefits of digital
Minister for Trade, Tourism and Investment Simon Birmingham said the ‘E-commerce Aid for Trade Fund’ would have a major focus on building e-commerce
capacity and capability across the Indo-Pacific, including within the ASEAN region.
International Women’s Day is fast approaching! To celebrate, GTPA wants to shine a light on the women who rock international trade
In advance of International Women’s Day on the 8th March, the GTPA is pleased to launch today a new campaign to shine a light on the women who rock international trade.
SMEs are the backbone of most economies and women business owners are also crucial to economic growth.
According to research by consultancy, McKinsey, advancing women’s equality could add $28 trillion to global GDP by 2025 – equivalent to adding a new United States and China. There is a need to do more to support and drive greater engagement by women as business leaders and encourage their participation in global markets.
Australia leads the move to negotiations on digital trade rules
Australian efforts have ignited negotiations with 75 other members of the World Trade Organization (WTO), representing over 90 per cent of global trade, on the development of new international rules in digital trade.
Minister for Trade, Tourism and Investment Simon Birmingham said establishing new international rules for digital trade would help keep markets open, reduce barriers and make it easier for Australian businesses to grow into new markets and operate across borders.
“Digital trade is an increasingly important way for Australia to do business with the rest of the world,” Minister Birmingham said.
Open, transparent and rules-based international trade for eCommerce and Digital Services are critical to economic prosperity
“The GTPA congratulations the 76 WTO members committed to establishing eCommerce rules. The rapid pace and scale of technological change and global flows
of information, among other forces, are disrupting labour markets and fundamentally altering the future of work. While these shifts may create economic
growth, new jobs and flexible work, they may also lead to the automation and consequent disappearance of routine, manual roles,” said Lisa McAuley,
CEO of the Global Trade Professionals Alliance (GTPA).
Technological advancements, despite the disruption, also create opportunities for expansion into global markets for sectors of the population excluded from more traditional trade mechanisms. The ability to seize these opportunities and manage potential obstacles, however, is not evenly distributed.
New Year brings good news for Australian exporters
Australian farmers and businesses will continue to reap the benefits of Australia’s free trade agreements with further tariff cuts set to boost Australia’s competitive advantage in two of our major export markets.
Minister for Trade, Tourism and Investment Simon Birmingham said the latest round of tariff cuts on 1 January under our trade agreements with China and Korea would build on the substantial economic benefits these two major agreements had already delivered for Australian exporters.
Our goal is to bring people together to:
- build professional capabilities in trade
- elevate the profile of trade
- advocate the benefits and opportunities of trade
- facilitate networking
- improve the performance and success of companies in global trade
- boost the efficiency of trade processes.
Featured GTPA Member
Ziyaad Ebrahim, GTP
Ziyaad has close to fifteen years of experience in international trade and development.He joined the World Trade Organization (WTO) after serving 12 years in various positions within the Government of Seychelles, where he comes from.
During his time in the Government of Seychelles, he was directly involved in trade, investment and general economic policy formulation and implementation.He also has experience on WTO accession and was involved in FTA negotiations with the European Union and within the Eastern and Southern African region. He has also worked with international organisations such as the IMF, World Bank and the African Development Bank on Structural Adjustment Programmes, private sector and MSME development initiatives including gender empowerment projects.
In his current role with the WTO, he coordinates the work of the WTO LDC Group in the ongoing trade negotiations.He also monitors and assists LDC participation in specific areas of the negotiations which include Special and Differential Treatment (S&DT), fisheries subsidies, trade facilitation and LDC accession negotiations.
He is fluent in English and has working knowledge of French.
Ziyaad was one of the first people globally to be certified as a Global Trade Professional in the area of Trade Management.