Global Trade Updates
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The COVID-19 crisis has led the ECA to embrace a multilayer strategy aimed at building capacities for response, resilience and recovery particularly geared to provide support to our members, SME exporters and the broader trade community.
2019 Women Trading Globally participant featured by UN Women Asia and the Pacific for leadership during COVID-19
Sahar Iqbal graduated in English Literature from a renowned College (Kinnaird College for Women) in Pakistan. Previously a journalist, now an agriculturist by heart and soul, she aims to motivate more females to come out of their houses and work in the agriculture sector. In the year 2014, she got married into a culture which had and still has zero tolerance for a woman coming out of her four walls and taking the lead in the field.
In the Australian context, some of the measures adopted by our Federal and State governments and their agencies are summarised below. The general intent has been to “keep the borders open” but we are now at a stage of planning what additional measures may need to be adopted to assist the recovery of the international supply chain and the position of Australian exporters and importers.
Six years after Australia gained market access for table grapes to Japan and South Korea in 2014 (after many years of negotiation by the Australian Government, supported by industry and state government partners) – and amidst possibly the most difficult economic conditions in decades – Australian grapes growers and exporters are enjoying bumper sales to both Japan and South Korea.
It seems COVID-19 restrictions worldwide resulted in a new cycle of eCommerce adoption; it was only a matter of time, really. The recent upheaval of the Australian economy, local and global supply chain disruption, and currency volatility have accelerated a new digital wave.
Export Council of Australia Partner with Gandhi Creations to Create New Opportunities to Position Australian Businesses on a Global Context
Across several national projects and initiatives, the Export Council of Australia (ECA) will be partnering with NSW based multi-award-winning social enterprise, Gandhi Creations, to further enhance bilateral trade relationships between Australia and nations across the globe.
When aerospace technology company HeliMods was commissioned to deliver essential assets while the country is experiencing a pandemic, extreme measures had to be taken. Based in Caloundra in regional Queensland, Helimods’ international market consists mostly of US and European clients with teams deployed globally to service demand.
There are encouraging signs that Asia will lead the global economic revival. Decisive measures to control the pandemic have resulted in lower infection rates in Asian countries relative to other parts of the world, supporting policymakers’ ability to reopen their economies sooner.
The United Nations General Assembly adopted a resolution recognizing the crucial role of Micro-Small and Medium-Sized Enterprises (MSMEs) play in achieving the 2030 Agenda for Sustainable Development. Resolution (A/71/L.60) designates June 27 as “Micro-Small and Medium-Sized Enterprises Day.”
Supporting jobs is critical to help economies rebuild post-COVID-19. This new report in by WWF Australia and EY, supported by HSBC finds that an AUD2 billion (USD1.4 billion) renewable stimulus package would unlock over 100,000 jobs, generating nearly three times as many jobs than investment in fossil fuel projects, and unlocking AUD9.3 billion (USD6.5 billion) in investments.
Department of Agriculture announcements and updates on issues concerning the export agricultural products from Australia.
In 2019, Chayaa Nanjappa, Founder of Nectar Fresh, was selected to participate in the Australia Awards Women Trading Globally Program held in Melbourne and Sydney for two weeks. Supported by the Department of Foreign Affairs and Trade, the program included a range of engaging sessions on export readiness, discussions with female business leaders, and site visits with Australian exporters.
The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) formally enters into force on 5 July 2020 and will open new opportunities for Australian and Indonesian businesses, primary producers, service providers and investors.
The global economy has changed, and so too have some of the key drivers impacting currency markets.
We are headed into uncharted waters in the second half of this year, as governments gradually ease their COVID-19 lockdowns and travel restrictions to revive economic growth. Only time will tell whether the global economy can shift to a ‘new normal’, or if it will be a case of two steps forward, three steps back.
Australia and the United Kingdom yesterday announced the commencement of negotiations on a bilateral free trade agreement (FTA), which will start a new chapter in the economic relationship and help to boost export flows between our two nations.
Women Trading Globally Program participant exports sustainable Filipino weaving culture to the world
In 2019, the ECA welcomed Anya Lim of ANTHILL Fabric Gallery to Brisbane and Sydney on the Australia Awards Women Trading Globally Program, supported by the Department of Foreign Affairs and Trade. Anya is one of a growing number of young female social entrepreneurs in the Philippines.
The Minister for Trade, Tourism and Investment Simon Birmingham has expressed thanks and acknowledged the contribution of outgoing Australian Trade and Investment Commission (Austrade) Chief Executive Officer Stephanie Fahey.
OFX and Export Council of Australia partner to help Australian exporters to expand and benefit from FX services
We are proud to announce that we have launched a partnership with OFX to help Australian businesses’ take advantage of opportunities in the global market and move money globally with confidence.
Australia recorded a mega $19.2 billion trade surplus for the March quarter along with its highest ever current account surplus, highlighting how important our export sector will be as the Australian and global economy begins to recover from the impacts of COVID-19.
In 2019, Bhagya Iddamalgoda was selected as a participant of the Sri Lankan Women Trading Globally Program held in Western Australia. With her keen sense of business, clear vision, and eye for design and aesthetics, the ECA has watched Bhagya’s business Candle House Ceylon continue to expand and evolve.
This story is part of a series of interviews, by the ECA, with exporters that have been affected by COVID 19.
With travel restrictions within our states and territories destined to be eased in the not too distant future, there is an excitement in the air that only comes while planning your next adventure. The push to get us travelling within Australia could see us fall in love with our lucky country all over again.
On 23 March 2020, Prime Ministers Scott Morrison and Lee Hsien Loong announced the conclusion of negotiations for the Australia-Singapore Digital Economy
Prime Ministers also witnessed the signing of two cooperation Memoranda of Understanding (MoUs) on Data Innovation and Artificial Intelligence – part of a suite of seven MoUs under the Digital Economy Agreement enabling enhanced cooperation on emerging technologies and shared challenges.