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Global Trade Updates

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The latest Currency Outlook, brought to you by OFX

The latest Currency Outlook, brought to you by OFX

26.06.2020 OFX

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.

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​Australia-UK Free Trade Agreement negotiations kick-off

​Australia-UK Free Trade Agreement negotiations kick-off

18.06.2020 Senator the Hon Simon Birmingham

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.

 
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$13 Million package to boost regional exports

$13 Million package to boost regional exports

16.06.2020 NSW Trade and Investment

NSW small and medium exporters will benefit from almost $13 million in support programs aimed at creating jobs and supporting the regions, including a $10,000 Exporter Assistance Grant.

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Queensland tourism provider pivots during international travel ban

Queensland tourism provider pivots during international travel ban

02.06.2020 Richelle Ward

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.

 
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Recovery – the world of trade and how will that look at the WTO

Recovery – the world of trade and how will that look at the WTO

02.06.2020 Dianne Tipping

Australia, as well as many other countries of the world, are now in the recovery phase of the COVID 19 pandemic crisis - what does this mean for the economy? This remains to be seen, but I do not think it will be business as usual. However, I do know that trade will be one of the most critical steps that we need to manage.

 
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Australia-Singapore Digital Economy Agreement

Australia-Singapore Digital Economy Agreement

02.06.2020 Export Council of Australia

On 23 March 2020, Prime Ministers Scott Morrison and Lee Hsien Loong announced the conclusion of negotiations for the Australia-Singapore Digital Economy Agreement (DEA).

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.

 
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Australia in need of a 2020s vision

Australia in need of a 2020s vision

19.05.2020 ​HSBC Bank Australia

Australia is in need of a 2020s vision for its economy. The COVID-19 crisis, which is set to deliver the country’s first recession in 29 years and has come at a significant human cost, should also be the springboard for a comprehensive economic reform agenda to support a swift post-virus economic recovery.

 
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Freight and Education Hub project is nearing completion

Freight and Education Hub project is nearing completion

18.05.2020 Dianne Tipping

The Export Council of Australia (ECA) and Darwin International Airport (DIA) are proud to announce that the infrastructure project involving the development of the Darwin International Airport’s Freight and Education Hub is nearing completion.

The Export Council of Australia (ECA) and Darwin International Airport (DIA) are proud to announce that the infrastructure project involving the development of the Darwin International Airport’s Freight and Education Hub is nearing completion 
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Is now the right time to move away from China?

Is now the right time to move away from China?

14.05.2020 Tamara Oyarce

The short answer is – no.

The COVID-19 crisis has augmented the rhetoric that at a macroeconomic level Australia seems too reliant on China and so are our businesses – particularly exporters. 
 
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Free trade deal with Indonesia set to kick-off on 5 July

Free trade deal with Indonesia set to kick-off on 5 July

08.05.2020 Senator the Hon Simon Birmingham

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.

 
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​New flights to get seafood exports moving again

​New flights to get seafood exports moving again

07.05.2020 Senator the Hon Simon Birmingham

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.

 
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Best Case Scenario sees COVID-19 Cost US$9 Trillion

Best Case Scenario sees COVID-19 Cost US$9 Trillion

04.05.2020 Export Finance Australia

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.

 
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Post COVID-19: Are you assuming a new normal for your industry?

Post COVID-19: Are you assuming a new normal for your industry?

04.05.2020 Shane Styles

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?

 
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Australia Awards Women Trading Globally program participant begins sales to Australia from Indonesia

Australia Awards Women Trading Globally program participant begins sales to Australia from Indonesia

01.05.2020 Angela Wright

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.

 
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Will COVID-19 have lasting effects in Australia’s international trade?

Will COVID-19 have lasting effects in Australia’s international trade?

01.05.2020 Tamara Oyarce

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.

 
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