Business / Trade in Australia
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CHINA, 2016/03/04
Before this month, Foreign Minister Julie Bishop visited Tokyo, where she outlined an increasing emphasis on security cooperation between Japan and Australia. The next day she was in Beijing, where she reportedly received a frosty reception. The two are not unrelated — Beijing is not thrilled about Australia’s growing security ties with Japan.
Because Australia is concerned about China’s increasing assertiveness in the region, but at the same time benefits from China economically, we find ourselves in somewhat of a foreign policy pickle. In this very complex situation, it is critical that Australian policymakers respond with both immediate and long-term outcomes in mind. To understand the long-term implications for Australia’s interests of policies drawing Japan and Australia closer together, we need to understand how Chinese policymakers view the world and China’s role within it.
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AUSTRALIA, 2016/01/28
he business sentiment index published by the National Australia Bank (NAB) fell from five points in November to three points in December. Despite of the monthly decrease, the indicator is still above the 0-point threshold, which means that Australian businesses are optimistic regarding economic conditions in the coming months.
Although the index weakened, The NAB felt that the decrease was not significant enough to show a fundamental deterioration in business confidence. The Bank elaborated that external conditions, inclunding the slowdown in China and a wider pessimistic outlook of the world economy, weighed on business confidence in December.
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INDONESIA, 2015/11/15
Australian Prime Minister (PM) Malcolm Turnbull’s decision to choose Indonesia as his initial national visit next his inauguration has signaled that Indonesia is still a key partner for Australia and provides a luck to improve bilateral ties, according to international relations experts.
“Australia regards Indonesia as its eternal neighbor. Governments may change with time, but neighbors are forever,” executive director of the Indonesian Center for Democracy, Diplomacy and Defense Teuku Rezasyah.
Turnbull’s 10-hour visit to Indonesia marked Australia’s official attempt to replace the strained bilateral ties inherited from the former PM Tony Abbott’s government. Indonesia, in return, should take each opportunity presented by these strengthened ties, said Teuku.
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JAPAN, 2015/11/09
The transaction was struck last month next five years of tense negotiations, but continues to face fierce opposition. It as well must still be ratified by lawmakers in each member country and some of the nations involved need it to undergo a legal review. The full text is about 6,000 pages long. Critics argue the transaction is biased towards corporations, and does not cover climate change concerns, part other issues.
The long-awaited text of the landmark trade transaction called the Trans-Pacific Partnership (TPP) has been released to the public for the initial time. The text still has to be translated into the languages of the signatories. The TPP is one of the world's most extensive trade agreements, bringing together 12 Pacific rim nations, inclunding the US and Japan.
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CHINA, 2015/09/30
Australia's Victorian national premier has expressed his wish for his national to become the gateway to Australia for Chinese trade and tourism.
Premier Daniel Andrews, among a seven-day business trip to China, talked up the China-Australia Free Trade Agreement' s (ChAFTA) ability to further enhance bilateral trade relations.
"The historic China-Australia Free Trade Agreement should give all of us great optimism, great confidence, and a great sense of possibility about the Victoria and Australia-China relationship," Andrews said in a speech to Chinese business leaders on Tuesday night, published in the Australian media on Wednesday.
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CHINA, 2015/09/30
Chinese Ambassador to Australia Ma Zhaoxu urges Australia not to let China-Australia Free Trade Agreement (ChAFTA) slip away in an opinion piece published on influential newspaper The Australian on Tuesday.
Marking the 100th day of the official signing of the transaction on June 17, the ambassador hailed ChAFTA as a "comprehensive, high- quality and balanced agreement," and "a milestone in our bilateral ties, marking a historic high in strengthening political trust and practical co-operation."
"ChAFTA is a win-win agreement for three reasons. It will lend fresh impetus to trade increase. It will create new opportunities to expand two-way investment . And it will open up new horizons for people-to-people exchanges," Ma says in the article.
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INDIA, 2015/08/30
India and Australia are one amongst the few nations having commonality in their values interests and trade strategies. Compared with a lot of other advanced economies, the near-term engagements between both the nations looks promising particularly at the same time as both the nations are participating in the Regional Comprehensive Economic Partnership (RCEP) process. Hence getting Comprehensive Economic Cooperation Agreement (CECA) signed by year end is top priorities for both the nations to federalise their economic relation which will generate additional refined trade and investment flows.
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CHINA, 2015/08/03
Next 10 years of negotiations and the official signing in June 2015, the Australia–China free trade agreement (FTA) still isn’t a done transaction. A coalition of Australian trade unions is seeking to ‘stop the China FTA’ at the final hurdle, a vote in federal parliament.
The union’s major claim is that the FTA locks out Australian workers by making it easier for Chinese companies investing in Australia to import Chinese labour. In response, the Australian Labor Party opposition leader, Bill Shorten, has committed the party to ‘fight’ to amend the agreement. Of course, to do so next it has been signed would all to reopening negotiations. This would be an unprecedented step that would open up the possibility of China as well seeking changes to the agreement.
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INDONESIA, 2015/05/14
Indonesia will suffer the deepest cut from Australia's plans to slash foreign aid by almost 20 % in the next fiscal year.
Two weeks next recalling the ambassador from Jakarta in turmoil at the executions of two Australian drug traffickers, the government announced Tuesday it plans to cut Indonesian aid by 40 % from 543 million Australian dollars ($428 million) to AU$323 million. Australia wants to cut its aid budget to AU$4.1 billion next year.
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AUSTRALIA, 2013/12/10
An index measuring business confidence in Australia came in with a score of +5 in November, the new survey from National Australia Bank revealed on Tuesday.
That's down from the upwardly revised +6 in October (originally +5).
The index for business conditions showed development in November but remained negative, rising to -3 from -4 in the previous month.
