Trade

Australia has posted a trade surplus of $67.6 billion for the 2019 calendar year, according to data released by the Australian Bureau of Statistics on Thursday, with the value of exported manufactured goods showing a modest increase. Minister for Trade, Tourism and Investment Simon Birmingham said the trade surplus was supported by record levels of … Continue reading Trade surplus confirmed for 2019 →

Australia and Japan will cooperate to deploy hydrogen power, after signing a joint statement in Melbourne on Friday. “Australia is building a hydrogen production base to foster domestic growth and meet future export demand in Japan and the region,” Minister for Resources and Northern Australia Matt Canavan said. Australia and Japan have a history of … Continue reading Australia, Japan commit to hydrogen cooperation →

Chinese manufacturing has risen across the sector in November. In data released by the Caixin Insight Group and IHS Markit, the aggregate purchasing managers’ index rose at the fastest pace since December 2016. The figure rose from 51.7 in October to 51.8 in November. Other indicators also improved in November, with overseas sales rising for … Continue reading Chinese PMI indicates global growth →

The NSW government, in launching its international investment strategy, pointed to the state’s capabilities in advanced manufacturing. Named Global NSW, the strategy hopes to attract investment into the state from overseas companies and governments for the benefit of NSW. In launching the strategy, NSW Premier, Gladys Berejiklian, highlighted major projects underway in the state. “As … Continue reading NSW looks to global investment in advanced manufacturing →

Austrade will support Australian manufacturers who wish to sell into the US defence market. Describing the market as “the world’s largest”, Austrade also highlighted that is a highly competitive market that requires an in-depth understanding of a range of regulations and an ability to contend with long time-lines. For Australian businesses, Austrade will partner with … Continue reading Opportunity for Australian manufacturers to be tested in US →

A delegation from the centre of the Chinese manufacturing industry have visited NSW, with the aim to strengthen connections between the region and Australian businesses. In partnership with Austrade, one of the largest missions from Guangdong Province to ever visit Australia met NSW government ministers, industry organisations, and businesses. Guangdong Province is one of the … Continue reading NSW connects with Chinese manufacturing hub →

The International Monetary Fund (IMF) has released a dreary global outlook for the world economy, and the fate of manufacturing lies at the heart of future projections. Noting that slowdowns in manufacturing around the globe has been part of sluggish growth in 2019, the sector that is of most concern is the automobile manufacturing industry, … Continue reading Australia bucks global manufacturing downturn →

The Australian federal government will conduct a review into the Export Market Development Grants (EMDG) to grow the total value of Australian exports. Targeted at SMEs, the grants provide financial assistance to help businesses that currently export and those that hope to do so. Through the review, the effectiveness of the grants in the current … Continue reading Export program under review →

Australia’s trainees and apprentices took their skills to the world’s best this August at the WorldSkills Competition. Placing eighth overall, the team of 15 made up one of 66 national teams that competed in the Russian city of Kazan. The competition, which showcases the benefits of skilled trade professionals and vocational institutions, ranked contestants with … Continue reading Australia lands 8th in the WorldSkills competition →

Greater opportunities for collaboration between Australian manufacturers and Korean health professionals have opened up, thanks to the South Korean “Innovative Strategy on the Bio-healthy Industry”. The strategy, announced in May this year, aims to develop research and innovation in bio health. The four core elements of the strategy include creating a database of information to … Continue reading Strategy enables biotech partnerships between Australia and Korea →

The Queensland government has appointed Julia Herries as the Queensland Trade and Investment Commissioner – Hong Kong. Herries will be the conduit for Queensland businesses seeking to trade with Hong Kong and garner investment from the city-state. Herries will work to strengthen Queensland’s exports of manufactured goods and products to Hong Kong, the total value … Continue reading A new representative for Queensland manufacturers in Hong Kong →

In collaboration with the national industry associations of G20 countries, the Australian Industry Group (Ai Group) has called for action to confront the dissolution of the World Trade Organisation (WTO) dispute settlement system. The WTO established the rule-based framework that Australian manufacturing businesses that rely on international exports and imports depend upon. With Australia’s export … Continue reading Ai Group joins call for stable international trade regime →

The Australian Trade and Investment Commission (Austrade) is seeking to showcase the potential of medical manufacturing in Australia to inspire international investment. Launching a new digital health website, Austrade highlights Australia’s attractiveness as a location for developing, testing and launching new medical technologies. Denise Eaton, senior advisor at Austrade noted that Australia is inherently primed … Continue reading Federal government agency steps up support for medical manufacturing →

The Queensland Government’s first official Queensland-India Trade and Investment Strategy launched today is set to deliver a $1.5 billion trade boost to the state’s economy. The state minister for innovation and tourism industry development, Kate Jones said the Queensland-India Trade and Investment Strategy 2018–2023 outlined the importance of innovation in strengthening Queensland’s ties with the … Continue reading Queensland launches new India trade and investment strategy →

The federal government has concluded negotiations with Hong Kong on the Australia-Hong Kong Free Trade Agreement (FTA), with the deal to come into force next year. The conclusion of the agreement with Hong Kong means Australia now has FTAs with seven of its top eight export markets for goods and services. Australia’s trade minister, Simon … Continue reading Australia concludes free trade deal talks with Hong Kong →

Australia has ratified the Trans-Pacific Partnership (TPP-11) trade agreement, making it the sixth country to officially join the historic deal. With six countries now having ratified the agreement, the 60-day countdown for the agreement to come into effect has begun. it will enter into force on 30 December this year. Australia joins Canada, Japan, Mexico, … Continue reading Australia officially ratifies TPP-11 trade deal →

Australia has been accepted to join the World Trade Organisation (WTO) Agreement on Government Procurement (GPA), following three years of negotiation. A plurilateral agreement within the framework of the WTO, is the GPA is to provide greater opening for Australian businesses to compete in government procurement markets internationally, according to the federal government. First established … Continue reading Australia accepted into WTO government procurement agreement →

The Trans-Pacific Partnership (TPP-11) has passed parliament, making Australia the fourth nation to ratify the global trade agreement involving 10 other countries. On Wednesday, Labor voted with the government to pass the legislation enabling the TPP, which minister for Trade, Tourism and Investment Simon Birmingham would open markets for Australian farmers, manufacturers and businesses across … Continue reading TPP-11 passes federal parliament →

The International Monetary Fund (IMF) has forecast that Australia will slip to 2.8 per cent growth next year, down from an expected peak of 3.2 per cent this year, due to the impact of the continued US-China trade war. The IMF’s October World Economic Outlook report has revised down the forecasts for global growth contained … Continue reading IMF downgrades growth forecast in wake of escalating trade tensions →

The Victorian government has released its strategy to help local companies access Southeast Asian markets and increase trade and investment in the growing region. Called Globally Connected, the government’s Southeast Asia trade and investment strategy outlines plans to strengthen and expand the state’s two-way economic relationship with the region, identifying key trends and highlighting emerging … Continue reading Victoria releases Southeast Asia trade and investment strategy →