Global Trade Updates

The December goods trade surplus of $9 billion was a significant increase, up $7.4 billion from the November surplus, according to newly released data by the Australian Bureau of Statistics (ABS).

The UK has taken a major step in the process of joining CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), one of the world’s largest and most dynamic free trade areas.

ECA Member Down Under Enterprises has been with the ECA for over five years now.

"Our business is over 90 per cent export – so we felt like we needed to be connected with ECA and the resources which ECA makes available to members," said Phillip Prather, Head of Marketing and Operations at Down Under Enterprises.

So, fast forward to 2021 and the biggest change we have seen from a recruitment perspective is that employees want to continue to “Work At Home”. 

Export Council of Australia welcomes the appointment of the Hon Dan Tehan MP as the new the Minister for Trade, Tourism and Investment.

"It is a great honour to serve the Australian people as a minister in the Morrison Government and I thank the Prime Minister for asking me to serve as the Minister for Trade, Tourism and Investment."

The Export Council of Australia (ECA) has developed a series of workshops for companies wanting to understand export documentation requirements and/or gain assistance in training their team in processing documentation correctly and efficiently. Please note there are three workshops available covering different topics - learners can attend one or all three!

The Liberal-National Government will continue to defend the interests of our barley producers and exporters by taking action in the World Trade Organization (WTO) over China’s imposition of anti-dumping and countervailing duties.

Farmers, businesses and investors across Australia and the Pacific will have their trade opportunities boosted from today with the Pacific Agreement on Closer Economic Relations Plus (PACER Plus) coming into force.

Australia’s innovative exporters and investors have today been recognised for the contribution they make to our economy at the online Remarkable Australian Exporters’ Showcase.

The Australia-Singapore Digital Economy Agreement (DEA) has kicked-off, setting a new global benchmark for digital trade rules and providing more digital trade opportunities for businesses and consumers in both countries.

After attending the Women Trading Globally program held in Sydney and Melbourne in 2019, Kohinoor Yeasmin, CEO of TARANGO, has set her sights on making her business into an exceptional and unique "Hand-made Eco-friendly Fair Trade Organisation" of the world. As a member of the World Fair Trade Organization (WFTO), TARANGO is committed to alleviating poverty and increasing social responsibility through fair trade.

In November, Sony and Microsoft released their next generation videogame consoles: the PlayStation 5, and the Xbox Series S/X. In each case, two versions of the console were made available to consumers, with the most visible difference between the two being that the cheaper version have a disc drive. Being able to go to the shop and buy a physical version of your next videogame will now cost you extra.

Troy Animal Healthcare have been a member of the Export Council of Australia for just 2 years, they joined the ECA after they required help to update their export processes. The business wanted to ensure they were up to date with paperwork requirements and were maximising advances in FTAs and Government support.

Recent official Chinese messaging suggests that our bilateral relationship has now entered a new low. Without doubt, China’s recent actions, including restrictions imposed on particular Australian exports, are deliberate. We suspect that the relationship has now changed in character for the foreseeable future. We advise Australian exporters to brace for a longer period of contention.

The Morrison Government is pleased to announce the appointment of Mr Xavier Simonet as the new Chief Executive Officer of Austrade, the Australian Trade and Investment Commission.

Due to COVID-19, the third Home Affairs Portfolio Industry Summit was the first summit to be held on a virtual platform across two days – 23 and 24 November. The Home Affairs Portfolio’s annual Industry Summit is its premier industry engagement event. Industry representatives heard from Portfolio's leaders about the ABF’s strategic direction and priorities for the future.

Article 10 in our series of Incoterms® 2020 – In each article we will identify the responsibilities of the seller and buyer in the transaction at different points in the shipping journey.

Diana Yates is Managing Director of Cathliro, a producer and supplier of sun dried (smoke free) cocoa beans. She works closely with Solomon Island’s small cocoa growers to improve their farming practices and ensure they get best prices for their ‘wet’ beans. Cathliro purchases their beans, and then ferments and sun-dries them to a reliably high standard – achieving “a consistent flavour of light fruity and floral notes”.

ECA Member The Lupin Co started the business in 2016 and manufacture foods from Australian Sweet Lupin, as a high protein (40%+) and low carbohydrate (4%) option in a diabesity challenged world. They built a factory and have vertical integration back to large WA farms which supply the business.

Recent news on the international trade stage has been less than optimistic – especially for those Australian exporters who are held up by ongoing Chinese trade bans on some of our primary products and resources.

It appears to be a direct consequence of some diplomatic disagreements but, to date, falls short of a full trade war.

Australian farmers and businesses are set to benefit from better export opportunities with the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement between Australia and 14 other Indo-Pacific countries.

In 2019, Simheang Tex of Kei Meas, Cambodia, participated in the Australia Awards Women Trading Globally program along with 14 fellow participants from South East Asia and Mongolia. Simheang shares her inspiring story with us below.

2020 has started as an exciting year for ECA Member, Vekta Automation. They are in the process of strategically planning for the next three years with a focus on increasing their exporting markets and product offering. They are wrapping up the development of two new products, both will disrupt the market and provide Vekta with a strong entry point for the European market. In all the plans, visions and actions Vekta continues to focus on building relationships- their internal Vekta family, customers, suppliers, partners and associations such as ECA. This is how Vekta will continue to grow to be a global business.

The Export Council of Australia wishes to congratulate Simon Birmingham, Minister for Finance, Minister for Trade, Tourism and Investment, Leader of the Government in the Senate, Senator for South Australia on his appointment to the position of Minister of Finance. 

Are you financially prepared for export in 2021?

According to most officials, we appear to have a winner in the United States (US) election with the announcement of the success of the Biden/Harris ticket.

It has yet to be recognised or endorsed by the current US President and his followers but the plan seems to be that the Biden/Harris administration will be inaugurated on 20 January 2021. Although the manner of that inauguration may be very different in the time of the pandemic.