AUSTRALIA PURSUES MAJOR TOURIST BOOST: Australia hosted more than 300 global travel experts in Perth this week as part of its G’Day Australia promotional initiative. Tourism Minister Farrell said G’Day Australia played a critical role in ensuring Australia remained a top choice with international travellers.
ASEAN & CHINA CONCLUDE TRADE NEGOTIATIONS: ASEAN and China have substantially concluded negotiations for the ASEAN-China Free Trade Area Upgrade 3.0. It was first signed in 2002 and represented ASEAN’s first external FTA and China’s first FTA. It is planned to sign the upgraded protocol in 2025.
AUSTRALIA LAUNCHES TOMATO INQUIRY: The Anti-Dumping Commission has launched an alleged dumping and subsidisation inquiry into prepared and preserved tomatoes imported from Italy. It follows an application by local producer SPC. A recommendation to the Minister of Industry is due in March 2025.
PHILIPPINES & EU RESUME TRADE TALKS: The Philippines and European Union have this week resumed negotiations for a free trade agreement. The negotiating round in Brussels followed an agreement in March to resume the trade talks. Negotiations were first held in June 2016 but stalled in February 2017.
MALAYSIA LAUNCHES STEEL INQUIRY: Malaysia has begun an anti-dumping inquiry into steel wire rods from China, Indonesia and Vietnam. It follows a complaint by a local producer that rods from the three economies were sold at lower than their domestic price and had caused injury to the domestic industry.
AUSTRALIA BOOSTS EXPORT BAN FUNDING: Australia has boosted funding for the phasing out of live sheep exports by sea. Agriculture Minister Collins said the additional funding of $32.7m for farmers and associated supply chains would boost overall transitional funding to $139.7m. The ban applies from 2028.
NEW ZEALAND MINISTER TO JOIN G20 TRADE MEETING: Trade Minister McClay will join next week’s G20 Trade & Investment Ministerial meeting in Brasilia as a guest participant. While in Brazil, he will also lead a business mission of 13 New Zealand organizations to Sao Paulo.
SOUTH KOREA & ASEAN TO LAUNCH TRADE THINK TANK: South Korea and ASEAN are to launch a new Trade & Economic Think Tank Dialogue. It will involve major research institutions from the participating economies and become a key cooperation platform. An inaugural meeting is to be held in Seoul in 2025.
US LIFTS MALAYSIAN GLOVE BAN: US Customs has lifted an import ban on disposable gloves made by the Brightway Group of Malaysia. The withhold release order was imposed in 2021 over suspected forced labour practices. US Customs said Brightway had taken action to remediate the forced labour indicators.
NEW ZEALAND TO EASE INVESTMENT RULES: NZ is to ease its foreign investment laws. Associate Finance Minister Seymour said it will change the requirement that investment was a privilege that must be justified to government to one that investment could proceed unless there was an identified risk to NZ’s interests.