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Trade update | 10 February, 2023
09 Feb 2023
ICC Australia National Policy Committee Meeting
The first ICC Australia National Policy Committee Meeting for the year will be held virtually on Wednesday 15 February (2:30 – 4:00pm AEDT).
Special guest speaker Frances Lisson, DFAT’s Australian Chief Negotiator for the India-Australia Economic Cooperation & Trade Agreement will provide a debrief on negotiations for this trade agreement and set the scene for the next phase of negotiations towards the India-Australia Comprehensive Economic Cooperation Agreement.
If you are interested in attending, please contact the ACCI team.
ACCI’s chamber network has unique insight into Australian trade, as Australia’s leading issuer of certificates of origin.
Under the India-Australia Economic Cooperation and Trade Agreement, which entered into force 29 December 2022, Australian exporters are already benefitting from reduced or eliminated tariffs.
In the first month of the Agreement, ACCI’s data reveals that trade with an estimated value of AUD2.5 billion has had certificates issued under this agreement. The main commodities that have shipped under IA-ECTA include coal, wool, almonds and various minerals.
Advice on certificates
of origin for India is available through state and territory chambers. Contact details are available here.
EU-Australia FTA Roundtable Discussion
ACCI Head of Trade and International Affairs Chris Barnes met the EU Chief Negotiator for EU-Australia Free Trade Agreement Christophe Kiener. A roundtable discussion was hosted by the European Australian Business Council to provide an update on the process of the negotiations.
The 14th round of Australia-EU FTA negotiations commenced on February 6 in Canberra. The EU-Australia FTA remains a priority for the government with the aim of finalising by mid-2023.
Meeting between Australia and China’s Trade Minister
On Monday, Australia’s Minister for Trade and Tourism Don Farrrell virtually met with China’s Minister of Commerce Wang Wen Tao, marching the first such meeting in three years.
This meeting follows Prime Minister Albanese’s meeting with Chinese President Xi at G20 Summit, and the agreement by Foreign Ministers in December 2022 to restart dialogue with China.
Trade and investment topics were raised with discussion of resuming the unimpeded trade for Australian exporters and supporting business delegations to further strength links between both countries.
Click here to read the full media release.