Global Trade Updates

Australian exporters will soon start reaping the benefits of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), with Australia receiving formal notification that Indonesia has completed its domestic ratification processes.

Tropical North Queensland’s seafood industry has been given a major boost, with the Morrison Government helping to secure a critical freight route between Tropical North Queensland and Hong Kong.

Details of the two International Freight Assistance Mechanism (IFAM) webinar recordings available for viewing. 

In January, the IMF forecast the global economy to expand at the ‘sluggish’ pace of 3.3% in 2020. But less than three months later, amid COVID-19 containment measures, the IMF now forecasts the global economy to contract by 3% this year. This would mark the first decline since 2009 and the deepest since the Great Depression.

Let us put some perspective around our position. Whilst the interconnectedness of the world of trade is here to stay, a shock to the system of this magnitude is creating a shift in the preferences and expectations of society as people, employees, and consumers. How you interpret these shifts and then position your business to chart a course forward will determine your position success - not just now, but in two years’ time?

The ECA is excited to hear news from WA, that Perth-based company, Linear Clinical Research, has been selected to undertake a trial of one of the first vaccines in the world to demonstrate safety and immune response against COVID-19.

In 2019, Annisa Pratiwi, Co-founder of Ladang Lima, participated in the Australia Awards Women Trading Globally Program funded by the Department of Foreign Affairs and Trade. The program focused on building the export capabilities of 15 female entrepreneurs from countries in South East Asia and Mongolia. The program was delivered in Brisbane and Sydney over two weeks, and the timing of the program coincided with the Naturally Good Expo in Sydney.

Short answer - yes.
Covid-19 is causing widespread disruptions to shipping and air freight, and wreaking havoc on global supply chains across Europe, America and Asia which are critical to the supply of goods. Toilet paper and PPE shortages, profiteering from hand sanitizer and empty shelves in grocery stores were common around the world right from the start of this pandemic.

Regional Development Australia (RDA) Sydney is holding a webinar "Resources and opportunities available to support exporters" on Wednesday 6 May at 11 AM (AEDT).  Join this webinar to explore all opportunities for businesses affected by COVID-19 and find the support to maintain export confidence.

A new network of 15 air freight service providers and freight forwarders has been established by the Morrison-McCormack Government to accelerate delivery of agricultural and fisheries exports into key overseas markets.

Join this briefing to find out more about the impacts on Australian businesses engaged in global trade and supply-chains (export and import) resulting from the current global situation. There will also be an update on the Federal Government’s international freight support measures.

The COVID-19 pandemic is inflicting high and rising human costs worldwide, with over three million of people infected by the virus and over 211,000 deaths, we at the ECA are profoundly saddened by the loss of life that has occurred around the world. This health crisis has quickly evolved to become an economic crisis, with millions of people around the globe losing their jobs and income. Concerning projections from both the IMF and the WTO who have predicted the global economy will contract –3% and that international trade will fall sharply in 2020 respectively. In an ‘optimistic’ scenario, WTO economists predict the volume of global merchandise trade will fall by a staggering 13% compared to 2019.

As the weeks and milestones of COVID 19 gain momentum, the team here at the ECA would like to share some stories of triumph and tribulation from our exporting community. 

In 2019, Siddhi Karnani, co-founder and director of Parvata Foods participated in the Australia Awards Women Trading Globally Program held in Melbourne and Sydney. We congratulate Siddhi on her recent achievement - she has been recognised by Forbes 30 Under 30 – Asia for her work in social entrepreneurship.

Export Finance Australia provides a range of flexible loans and guarantees for exporters. If your business has been affected by COVID-19 and you need finance, see how Export Finance of Australia could help.

Businesses need to understand upfront that dealing with COVID-19 is not a sprint; it’s going to be a marathon. But most managers and owners are running around in the businesses like it’s a sprint, and the business is going to struggle to chart the right course.

The coronavirus (COVID-19) pandemic is changing the way we live and work—and the agricultural industry is no exception.Australia’s agriculture, fisheries and forestry industries are essential to our country’s food and fibre security, so keeping our industries strong and viable is a priority.

At last, the UK has finally started its process to depart the European Union (EU). However, there is still some real uncertainty about what will remain at the end of the departure process.

What has taken place?

Australian exporters impacted by the COVID-19 crisis will now have access to business-saving loans between $250,000 and $50 million under a new $500 million capital facility to be administered by Export Finance Australia.

Additional information of other Air Freight services in operation (subject to further change) is now available. Please liaise with your freight forwarder for further information.

To support Australian exporters, Qantas and Virgin Australia are offering air freight capacity on repatriation international passenger services to Auckland, Hong Kong, Los Angeles and London, from Thursday 9 April 2020.

The Australian Border Force (ABF) is committed to ensuring our staff and yours work in as safe an environment as possible. This enables the ABF to continue working with industry to maintain our role in protecting the community, through critical functions such as the examination of cargo, both incoming and outgoing.

To assist Victorian businesses impacted by coronavirus (COVID-19), we are providing information that may be helpful to them. 

In this disruptive and challenging environment, the Global NSW business update will provide you with up-to-date information from our network of overseas offices, market and export advisers on support for business, trade and investment.

A new $110 million initiative will back Australia’s agricultural and fisheries sector by helping them export their high-quality produce into key overseas markets, with return flights bringing back vital medical supplies, medicines and equipment.

The Morrison Government will inject an extra $49.8 million into the Export Market Development Grants (EMDG) program in the 2019-20 financial year, allowing exporters and tourism businesses to get additional reimbursements for costs incurred in marketing their products and services around the world.

The Australian Federal Government, State Governments and Territories have taken a united stance and agree that all freight and logistics services (domestically and internationally) be designated as essential services and thereby supported and protected so that they remain open and working during the current lockdown status in Australia.

Australia and 15 other members of the World Trade Organization have agreed to establish an interim arrangement to bring appeals and solve trade disputes.

We read a great deal of news daily on what the Australian Government and the State Governments of Australia are doing to assist Australians during this very difficult time of the COVID-19 Virus. But what is the world doing collectively to manage the COVID-19 virus?

Export Finance Australia is the Australian Government’s export credit agency, providing finance solutions for businesses, including those affected by COVID-19.