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Ending a dispute that’s been running for 16 years, Minister for Trade Simon Cream has welcomed a breakthrough deal that will cut the European Union (EU) banana import tariff, alongside a related agreement to provide deeper tariff cuts on the importation of tropical products. Crean said the deals on bananas and tropical products would generate [...]
...read moreWorld Trade Organisation (WTO) arbitrators have ruled in favour of the USA in the case regarding Chinese import restrictions of US music, films and books. The case confirms an earlier ruling in August, which China had appealed. Failure to bring its practices into line with international trade law could lead to commercial sanctions against China [...]
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Prime Minister Kevin Rudd wants an Asia-Pacific conglomerate to address regional economic, trade and security issues but does not believe a European Union-style forum will be the best way forward. At the Asia-Pacific Community Conference in Sydney last week, Rudd proposed that a new forum should be developed to include Asia-Pacific countries including China, Japan, [...]
...read moreChina has rejected a World Trade Organisation (WTO) bid to have a panel investigate its raw material exports on suspicion of restricting these exports to benefit local industry at the disadvantage of other countries’ manufacturing industries. The European Union, Mexico and the USA have requested the WTO investigate incidents where China have allegedly limited materials [...]
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The World Trade Organisation (WTO) will review a trade dispute brought against China by the European Union, Mexico and the USA on restrictions regarding raw materials. The three parties have accused China of restricting the export of raw materials required to make steel, aluminium and chemical products, which in turn has forced prices up for [...]
...read moreOfficial European Union data showed a fall of 0.7 percent in retail spend for the month of September for the 16 nations using the euro, and recorded a 3.6 percent decline compared to the same period last year. The EU as a bloc fared a little better, with a 0.4 percent overall decline and a [...]
...read moreThe European Commission has predicted a ‘gradual’ recovery for Eurozone countries over 2010 and 2011. Its autumn economic forecast stated: “A gradual recovery is expected with gross domestic product forecast to grow by 0.7 percent in 2010 and around 1.5 percent in 2011.” This compares well to their earlier forecast of a 0.1 percent fall [...]
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Minister for Agriculture, Fisheries and Forestry Tony Burke has announced an overhaul of the system for allocating the United States and European Union dairy tariff rate quotas, which he says will cut red tape and help improve market access. The quotas allow certain amounts of Australian dairy products to be exported to the US and [...]
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Kim Beazley, once leader of the Labor Party during the Howard Government era, has been named Australia’s next ambassador to the USA. Due to begin his post in November, Beazley will leave his current role as chancellor of the Australian National University and fulfil a long-standing interest in the US. “The US is a country [...]
...read moreEuropean Union finance ministers are hoping to boost the International Monetary Fund’s (IMF) resources to aid countries suffering from the global economic downturn.
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