Global Trade Updates

The preparation of export documentation can be confusing, time consuming, costly, and prone to human error, but correct export documentation is vital for any exporter to transact business in an efficient and cost effective way. 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 - you can attend one or all three!

The COVID-19 pandemic has had a profound impact on global supply chains that will be felt for years to come. Where price and speed were once defining factors in global trade, the focus has shifted to the safety, traceability, and provenance of products as they move around the world.

Viriya Lim’s family business LM Lima Angkor Food produces some of the most popular traditional Khmer biscuits in Siem Reap province, Cambodia. For several years the biscuits have been sold in supermarkets across Cambodia, enabling many foreign tourists and investors to take home LM products as souvenirs.

Article 9 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.

High Commission of India, Canberra, announces the relaxation of conditions for the import of Onions into India. India has been decided to allow relaxation from the condition of fumigation and additional declaration on Phytosanitary Certificate as per the Plant Quarantine Order 2003, for imports up to 15 December 2020 on the following conditions:

Considering protecting intellectual property (IP) assets before you enter new markets can strengthen your business’ competitive advantage and significantly reduce the risk of IP breaches.

Businesses across the state will have a chance to boost their company profile and demonstrate their resilience in the face of adversity with submissions now open for the 2020 Premier’s NSW Export Awards.

If you want to expand your business into Asian markets, there are two exciting initiatives on offer by the Department of Jobs, Tourism, Science and Innovation that can help.

Whether negotiating payment terms with international suppliers, budgeting for projects or hedging future payments, planning for 2021 in a volatile FX market is an intimidating prospect.

In this webinar, Western Union Business Solution’s APAC Currency Strategist, Steven Dooley, uncovers the key market trends and events set to reshape financial markets and currencies in 2021.

Trade, investment and collaboration with one of the world’s most dynamic economies will be the focus of a COVIDSafe Australia-India bilateral awards initiative coming to Sydney in 2021 under a three-year partnership with the NSW Government.

MSM Milling, our featured member, transforms Non-GM canola seed bought directly from more than 1,000 local farmers, into value-added oil, meal and stockfeed products at its fully integrated oilseed crushing, oil refining, packaging and stockfeed manufacturing operation in regional NSW.

Article 8 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.

Ongoing restrictions to contain Covid-19 and adverse competition between major trading economies are pushing Australian businesses to reconsider their global supply chain strategies.

As they contemplate alternative operational locations and new sources of supply, they are looking to Government for supportive policies and programs. The Export Council of Australia therefore welcomes the 2020-21 Budget allocation of $28.6 million to implement a simplified trade system.

Exports make a significant contribution to the Australian economy, generally representing more than 20 per cent of Australia’s GDP. But as with other parts of the Australian economy, Australian exports have been impacted by Covid-19.

Innovative exporters and investors from across Australia will be celebrated in a recognition program that will highlight the incredible resilience shown by Australian businesses this year. Small and medium sized exporters that have adapted to the challenges of 2020 in creative and inspiring ways will have their stories highlighted as part of an online campaign.

The Australian Government and others around the world are now certainly looking at the economic impact of Covid-19. The externalities from restrictive health measures to date are proving far costlier than initially perceived by authorities. What they do now, moving forward, will be crucial to the livelihoods of many, who are already struggling to put food on the table and worrying about their future.

Take stock of your emotions: it’s completely normal to feel concerned or upset about what is happening. If you feel anxious, talk to a trusted friend or family member or seek professional help: Phone Lifeline: 13 11 14, BeyondBlue: 1300 224 636 or Headspace: 1800 650 890. We have collated a list of some useful tools that may be helpfu. 

There is no doubt that the business of doing business has changed irrevocably.

The Export Council of Australia is very proud to announce that we have developed in conjunction with AUSVEG a new online e-learning training program to assist Australian Vegetable growers to chart a new way forward by offering export development courses available for all levy-paying Australian vegetable growers at all levels of export experience.

Orientique is an Australian business providing Ladies Fashion exclusively to small boutiques across the world and the ECA's featured member. The impacts of COVID-19 were initially felt by Orientique with closures of retail stores across Europe in early March. Their Summer stocks were about to be delivered to our Northern Hemisphere customers and Winter stocks to Australia NZ.

Basanti Pradhan participated in Women Trading Globally in May-June 2019, supported by the Department of Foreign Affairs and Trade. Basanti shares her experience of the program, as well as the impact of COVID-19 on the local economy and the way she has pivoted her business to empower women, and how she will expand her floriculture offerings.

We are now threequarters of the way through 2020 and many things have changed due to COVID – 19. The Australian economy declined by 7% in the April-June quarter - the largest fall since the Australian Bureau of Statistics began compiling records in 1959. Domestic consumer spending fell by 12.7 per cent. And it is unlikely to make any significant rebounds in the near future.

Our sixth Incoterms® 2020 is CIP - Carriage and Insurance paid to (Place of Destination) - Incoterms® 2020. CIP can be used in any transport mode, and the risk transfers from the seller to the buyer as soon as the goods reach the nominated first carrier and the carrier takes charge of these.

Western Union Business Solutions has partnered with Arthur Psaltis to tell his personal story on surviving the 1998 Sydney to Hobart superstorm and how it influenced his life and the trajectory it's taken.

As part of the establishment of the Australian Sanctions Office (ASO), the Online Sanctions Administration System (OSAS) is being replaced by the new Australian sanctions portal, Pax, effective from 9:00am AEST on 1 October 2020.

One of the stories from the COVID–19 pandemic has been the surging numbers of goods being moved through e-commerce. The forced levels of isolation have caused consumers and corporates to resort to purchasing even more goods than ever online seeking urgent delivery.

For Brisbane Importers who require a day-definite or consistent transit time we suggest using the fast direct loops from Shanghai / Xiamen / Ningbo / Shenzhen / Guangzhou ( JKN/CNJ ) Avoid using vessels via Sydney and Melbourne in the short term, announced One Global Logistics.