FREE TRADE – GOVERNMENT POLICY – AUSTRALIA

Union threat to China free trade deal

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 17-Jul-15

The free-trade agreement with China will be a key issue at the Australian Labor Party’s National Conference in July 2015. A group of unions will lobby the Opposition to pursue changes to the trade deal when the bill is debated in parliament, while shadow trade minister Penny Wong has expressed concern that the trade deal does not protect Australian jobs. Independent Senator Nick Xenophon also has reservations about some aspects of the deal with regard to imported labour.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN MANUFACTURING WORKERS’ UNION, TRANSPORT WORKERS’ UNION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, TEXTILE, CLOTHING AND FOOTWEAR ASSOCIATION OF QUEENSLAND, MARITIME UNION OF AUSTRALIA

Robb determined to secure India FTA

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Original article by Amanda Hodge
The Australian – Page: 17 : 14-Jan-15

The Australian Government has secured three free trade agreements (FTAs), with China, Japan and South Korea. Trade Minister Andrew Robb says he is very keen to add India to that list, and will continue a series of talks on such a deal during 2015 that started in 2011. He concedes that there are significant hurdles, especially in the areas of agriculture and foreign investment, but notes that the same applied to the China FTA when those negotiations began. Some 450 business leaders from 14 Australian industries are currently visiting India with Robb

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, RIO TINTO LIMITED – ASX RIO, WOODSIDE PETROLEUM LIMITED – ASX WPL, HANCOCK PROSPECTING PTY LTD, UNITED PROGRESSIVE ALLIANCE, CONGRESS PARTY (INDIA)

China deal to deliver benefits faster than other FTAs

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Original article by Greg Earl
The Australian Financial Review – Page: 7 : 12-Jan-15

The Australian Government has revealed that the free trade agreement (FTA) with China will result in tariffs on goods imported from China being abolished within four years. In contrast, the respective FTAs with Japan and South Korea do not abolish tariffs for seven years after the trade deals take effect. The Government believes that reducing tariffs on Chinese goods more quickly will benefit Australia, as it will in turn increase local manufacturers’ and service providers’ access to the Chinese market

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

$500m yearly drop in tariffs on Japan goods

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Original article by Sid Maher
The Australian – Page: 21 : 16-Dec-14

The Australian Government’s mid-year Budget update shows that the free trade agreement with Japan will reduce revenue from tariffs by $A100m in 2014-15 and $A1.59bn over the next four years. The Budget update also forecasts that China’s economic growth will slow to 6.5 per cent in 2016, while India’s economy will grow by six per cent

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, JAPAN. OFFICE OF THE PRIME MINISTER, INDIA. PRIME MINISTER’S OFFICE

Surge likely for China investment

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Original article by Rowan Callick
The Australian – Page: 28 : 19-Nov-14

Ross Hamilton of Ernst & Young forecasts that Chinese investors will ramp up their investment in Australian commercial property to $A8bn a year due to the free trade agreement. He notes that Chinese investment in the sector has totalled just $A24bn over the last seven years. Greenland Australia MD Luo Xiaohua says the Chinese group has invested $A2bn in Australia to date

CORPORATES
ERNST AND YOUNG, SHANGHAI GREENLAND GROUP COMPANY LIMITED, WANDA GROUP

New partnership with China

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 18-Nov-14

Australia and China have signed a free trade agreement. Chinese President Xi Jinping told the Australian Parliament on 17 November 2014 that China is a peace-loving nation. He hopes the trade deal will strengthen Australia’s ties with China. Opposition Leader Bill Shorten said the Australian Labor Party will scrutinise provisions for bringing Chinese workers to Australia for infrastructure projects valued at more than $A150 million

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Finance, tourism, health win China deal

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 17-Nov-14

Australian Prime Minister Tony Abbott and Chinese President Xi Jinping will sign a free trade agreement on 17 November 2014, after a decade of negotiations. It is believed that tariffs on about 85 per cent of Australian exports to China will be scrapped when the deal commences, rising to 93 per cent in the next four years. Service industries in particular are set to benefit from the deal, including law firms, tourism operators, financial services providers and health care groups

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. MINISTRY OF FINANCE

Two-step China free-trade plan

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Original article by Phillip Coorey, Angus Grigg
The Australian Financial Review – Page: 1 & 11 : 12-Nov-14

Insiders say the new free trade agreement with China due to be signed by Australian Prime Minister Tony Abbott on 17 November 2014 will not contain all of the concessions sought. Instead, some of the measures will be negotiated over time, in order to enable the timely conclusion of the main talks now. Trade Minister Andrew Robb has nominated the services sector as one area where more work will be done. Major issues for China are foreign investment restrictions on state-owned enterprises and plans to bring workers from China to Australia for projects financed by the former

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ASIA-PACIFIC ECONOMIC CO-OPERATION, GROUP OF TWENTY (G-20), TRANS-PACIFIC PARTNERSHIP

Goyder pleads for action on new trade deal

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Original article by Annabel Hepworth
The Australian – Page: 19 : 7-Nov-14

Richard Goyder, CEO of Wesfarmers, also chairs the Business 20 (B20) body advising the Australian Government on the Group of 20 (G20) leaders’ summit in November 2014. He urges G20 nations to adopt the recommendations of B20 on issues such as global free trade and investment in infrastructure projects to boost the economy. Goyder also backs comments by International Monetary Fund MD Christine Lagarde that industrial relations reforms are needed. Robert Milliner, the B20 sherpa, says G20 members must roll out free trade initiatives agreed to at a meeting in Indonesia in late 2013

CORPORATES
WESFARMERS LIMITED – ASX WES, BUSINESS 20 (B20), GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND, WORLD TRADE ORGANIZATION, MALLESONS STEPHEN JAQUES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

China pact sees miners duck tariffs

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Original article by Sid Maher, Scott Murdoch
The Australian – Page: 5 : 22-Oct-14

The Chinese Government recently declared new tariffs of 3% and 6% on imports of metallurgical and thermal coal respectively. However, Australian producers will be spared the measure, as Trade Minister Andrew Robb has negotiated a zero tariff in the talks on a new free-trade agreement between the two nations. Meanwhile Prime Minister Tony Abbott is being criticised by some of his Coalition MPs over failing to roll out a promised tightening of foreign investment limits in the agricultural sector

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NATIONAL PARTY OF AUSTRALIA, GROUP OF TWENTY (G-20), WORLD TRADE ORGANIZATION, ASIA-PACIFIC ECONOMIC CO-OPERATION, CHINA. MINISTRY OF FINANCE