FREE TRADE – GOVERNMENT POLICY – AUSTRALIA

Australia and European Union fail to resolve trade deadlock

roymorgansocial Leave a comment

Original article by Latika Bourke
The Age – Page: Online : 12-Jul-23

The federal government’s negotiations over a free-trade agreement with the European Union have reached an impasse after two days of talks. Trade Minister Don Farrell interrupted his European holiday to attend the talks in Brussels. Negotiations will resume in August, but Farrell has indicated that the government is prepared to abandon the proposed trade deal if it is not finalised by the end of 2023. The European Union wants access to Australia’s critical minerals, but Australian farmers’ access to Europe’s agricultural markets remains a key issue, along with the use of geographical indicators for products such as champagne and feta.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Free-trade deal with India a big step closer

roymorgansocial Leave a comment

Original article by Ben Packham, Patrick Commins
The Australian – Page: 2 : 7-Sep-21

Australia’s Foreign Affairs Minister Marise Payne and Defence Minister Peter Dutton will shortly travel to India for discussions with their counterparts, despite the COVID-19 pandemic. India’s External Affairs Minister Subrahmanyam Jaishankar views this as a positive sign that Australia is keen to secure a free-trade agreement with his nation, and he is optimistic that a deal will proceed. Negotiations for a free-trade deal have stalled for some years, but Treasurer Josh Frydenberg has signalled the importance of India as a trading partner as exporters seek to reduce their reliance on China.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF THE TREASURY, INDIA. MINISTRY OF EXTERNAL AFFAIRS

Unions demand detail of Australia’s free trade deal with UK citing concerns for workers

roymorgansocial Leave a comment

Original article by Katharine Murphy
The Guardian Australia – Page: Online : 17-Jun-21

ACTU president Michele O’Neil has urged the federal government to begin consultations with the union movement regarding the details of its ‘in-principle’ free-trade agreement with the UK. She says both governments have been secretive throughout the negotiations, and the proposed trade deal has not be subject to independent, union or public scrutiny. O’Neil is concerned that labour market testing rules will be watered down; she notes that a fact sheet released by the UK government suggests that Australian companies will no longer be required to prioritise hiring local workers.

CORPORATES
ACTU

Jokowi deal to absorb shocks: PM

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 5 : 10-Feb-20

Indonesian President Joko Widodo will address a joint sitting of federal parliament on 10 February, as part of his official visit to Australia. Joko and Prime Minister Scott Morrison will use the visit to announce a 100-day action plan to implement a free-trade agreement, which was recently ratified by the Indonesian parliament. Morrison says the coronavirus outbreak demonstrates the need for Australia to reduce its reliance on China for trade, adding that Indonesia will play a key role in Australia’s push into the Indo-Pacific region.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

UK open for quick trade talks

roymorgansocial Leave a comment

Original article by Geoff Chambers, Richard Ferguson
The Australian – Page: 1 & 4 : 31-Jan-20

Britain is set to formally exit the European Union on 31 January, after the European Parliament approved the Brexit deal. Australia’s Trade Minister Simon Birmingham is optimistic that a free-trade agreement with the UK can be finalised by the start of 2021, when the 11-month Brexit transition period ends; he notes that the two nations have already struck some deals that will take effect at that time. Former trade minister Andrew Robb says ensuring that Australian farmers have better access to the British market will be crucial to a trade deal.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

London calling: Boris talks trade

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 2 : 16-Dec-19

The UK could potentially finalise a free-trade agreement with Australia within a year, after Prime Minister Boris Johnson signalled that it will be a priority for his newly re-elected government in the post-Brexit environment. Business Council of Australia CEO Jennifer Westacott says the UK election result will provide businesses with greater certainty, while a free-trade deal will benefit all Australians. Meanwhile, Prime Minister Scott Morrison says there are similarities between Johnson’s emphatic win and the Coalition’s election victory in May, as well as the election of US President Donald Trump in 2016.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, LABOUR PARTY (GREAT BRITAIN)

Climate plan no barrier to trade deal

roymorgansocial Leave a comment

Original article by Ben Packham
The Australian – Page: 4 : 4-Dec-19

Trade Minister Simon Birmingham says the federal government will seek a free-trade agreement with the European Union that is in Australia’s best interests overall. The EU’s ambassador to Australia, Michael Pulch, has indicated that Australia’s climate change policies will not affect negotiations for a free-trade deal. Paris Agreement signatories will review their carbon emissions reduction commitments in 2023, and Pulch hopes Australia will use this opportunity to increase its reduction targets.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

What world’s biggest trade deal means to Australia

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 4 : 6-Nov-19

The 15-nation Regional Comprehensive Economic Partnership will account for about 29 per cent of global GDP. Shiro Armstrong, from the Australian National University’s East Asian Bureau of Economic Research, says the trade deal will generate ‘incremental’ economic gains for Australia. Sectors such as education, professional services and manufacturing are amongst those that are expected to benefit from the trade deal.

CORPORATES
REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP, AUSTRALIAN NATIONAL UNIVERSITY. EAST ASIAN BUREAU OF ECONOMIC RESEARCH

World’s largest trade pact an enormous victory: Morrison

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 2 : 5-Nov-19

The Regional Comprehensive Economic Partnership will come into effect in 2020, after the leaders of the 15 participating nations agreed to the terms of the trade deal at the East Asia Summit in Bangkok. The RCEP will comprise members of the Association of Southeast Asian Nations plus Japan, China, South Korea, New Zealand and Australia. Prime Minister Scott Morrison has welcomed finalisation of the trade deal and indicated that India could still join the RCEP at a later date. The trade deal will comprise about 30 per cent of global GDP.

CORPORATES
REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP, EAST ASIA SUMMIT, ASSOCIATION OF SOUTH-EAST ASIAN NATIONS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor waves through FTAs

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 8 : 22-Oct-19

ACTU president Michele O’Neil has criticised Labor’s decision to support legislation to establish free trade agreements with Indonesia, Hong Kong and Peru. She says the trade deals breach Labor’s national policy platform. Unions’ concerns about the trade deals include the clauses regarding investor-state dispute settlement and labour market testing. The legislation was passed by the lower house on 21 October after the federal government agreed to a number of concessions. It is expected to be passed by the Senate in November.

CORPORATES
ACTU, AUSTRALIAN LABOR PARTY