TRADE BLOCS – PACIFIC AREA

PM warns Taiwan of lengthy trade deal

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Original article by Ben Packham
The Australian – Page: 2 : 26-Aug-25

Six economies have applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in recent years, including China and Taiwan. Australia is chairing the 12-nation trade bloc in 2025, and Prime Minister Anthony Albanese says Taiwan is facing a "long process" in getting its application approved. China contends that Taiwan is not eligible to join the CPTPP because it is not a sovereign state. However, Liu Da-nien from Taiwan’s Chiang-Hua Institution for Economic Research notes that the island is a member of the Asia-Pacific Economic Co-operation forum, and he says APEC rules start that all members are entitled to join the CPTPP.

CORPORATES
COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CHIANG-HUA INSTITUTION FOR ECONOMIC RESEARCH, ASIA-PACIFIC ECONOMIC CO-OPERATION

What world’s biggest trade deal means to Australia

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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

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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

As TPP clears the Senate, Morrison hails export boon

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Original article by Phillip Coorey
The Australian Financial Review – Page: 2 : 18-Oct-18

The Senate has voted 33-15 to pass a bill to ratify the 11-nation Trans-Pacific Partnership, after it gained the support of Labor and several cross-benchers. Unions had opposed the TPP, particularly the provisions with regard to labour market testing and investor-state dispute settlements, and Labor will seek to remove these clauses from the TPP if it wins the next election. Prime Minister Scott Morrison notes that economic modelling suggests that the TPP will increase Australia’s national income by about $15.6bn a year by 2030.

CORPORATES
TRANS-PACIFIC PARTNERSHIP, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN GREENS, CENTRE ALLIANCE

Union threat to Labor over trade deals

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 4-Oct-18

The Australian Manufacturing Workers’ Union has warned that it will reconsider financial support for federal Labor due to the party’s stance on the proposed Trans-Pacific Partnership. The union has contributed some $367,000 to Labor’s federal and New South Wales branches in the last two years, but AMWU state secretary Steve Murphy has criticise federal Labor’s lack of consultation with the union movement in deciding to support the trade deal. The TPP’s provisions regarding labour market testing for imported workers is a key concern for unions.

CORPORATES
AUSTRALIAN MANUFACTURING WORKERS’ UNION, AUSTRALIAN LABOR PARTY, TRANS-PACIFIC PARTNERSHIP, ELECTRICAL TRADES UNION, TRANSPORT WORKERS’ UNION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Bring on TPP-11 or lose $15bn a year, says Minerals Council

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Original article by Adam Creighton
The Australian – Page: 17 & 20 : 14-May-18

The Minerals Council of Australia has released the results of modelling which suggests that the Trans-Pacific Partnership will boost Australia’s GDP by about 0.54 per cent a year, which equates to $A15bn. CEO David Byers says the 11-nation trade deal will bolster jobs, wages, economic growth and consumer choice in Australia. Byers has downplayed the ACTU’s concerns that the TPP will prompt a surge in temporary skilled migrant numbers, and called on federal parliament to endorse it.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, TRANS-PACIFIC PARTNERSHIP, ACTU, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, BRANDEIS UNIVERSITY, JOHN HOPKINS UNIVERSITY, NATIONAL FARMERS’ FEDERATION LIMITED, UNIVERSITY OF NEW SOUTH WALES

Warning of economic ruin from Trump protectionism

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Original article by Primrose Riordan, Ben Packham, Joe Kelly
The Australian – Page: 1 & 6 : 9-Mar-18

More than 100 Republican members of the US House of Representatives have urged President Donald Trump to abandon his plan to impose punitive tariffs on steel and aluminium imports. Global sharemarkets rallied on 8 March after Trump signalled that the US would temporarily exempt Canada and Mexico from the tariff regime. Meanwhile, on the eve of signing the 11-nation Trans-Tasman Partnership, Australia’s Trade Minister Steve Ciobo has warned of the economic consequences of the growing trend toward protectionism, particularly when it is conflated with patriotism.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. DEPT OF STATE, AMERICAN AUSTRALIAN BUSINESS COUNCIL, DOW CHEMICAL COMPANY, NEWS CORPORATION – ASX NWS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

TPP-11 signing sends Trump a message

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 8-Mar-18

Trade Minister Steven Ciobo says members of the 11-nation Trans-Pacific Partnership account for about 25 per cent of Australia’s exports, a figure that is likely to rise under the free trade deal. The Federal Government has revealed some details of the TPP; several participating nations will immediately scrap tariffs on products such as wine, seafood and steel, while some tariffs on beef will be phased out over a number of years. The TTP also includes provision for the free flow of data across borders. The TPP will be formally signed in Chile.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Trade pact to deliver GDP boost

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Original article by Simon Benson
The Australian – Page: 1 & 2 : 25-Jan-18

Independent modelling has concluded that Australia stands to gain more from the revised Trans-Pacific Partnership than if the US had agreed to join the trade bloc. The Peterson Institute for International Economics has estimated that Australia’s GDP could potentially grow by more than one per cent by 2030 as a result of the trade deal. The 11 nations participating in the TPP will officially sign off on the deal in March, and it must then be ratified by Federal Parliament.

CORPORATES
TRANS-PACIFIC PARTNERSHIP, PETER G PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, AUSTRALIA. PRODUCTIVITY COMMISSION, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Trade win after Pacific deal sealed

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Original article by Simon Benson
The Australian – Page: 1 & 2 : 24-Jan-18

Canada has agreed to become a member of the Trans-Pacific Partnership, with the 11-nation regional trade pact expected to be formally signed in March. Australia’s Trade Minister Steve Ciobo says the majority of tariffs currently imposed by TPP member nations will be scrapped under the new trade deal. The future of the TPP has been in doubt since US President Donald Trump withdrew from it, while Canada’s participation has been uncertain.

CORPORATES
TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, CANADA. OFFICE OF THE PRIME MINISTER, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, WORLD ECONOMIC FORUM, ASIA-PACIFIC ECONOMIC CO-OPERATION, GROUP OF TWENTY (G-20)