IWFCI News

United Kingdom and Australia trade agreements

Australia and the UK commit to establishing mechanisms that will provide for the liberalisation oftariffs on each other’s goods and that will address non-tariff barriers to trade between our twocountries. Australia and the UK will commit to providing the most liberal possible treatment forgoods of interest to both countries, while taking into account product sensitivities….

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Regional Comprehensive Economic Partnership

Regional Comprehensive Economic Partnership Free Trade Agreement – Signed 15th November 2020 The Regional Comprehensive Economic Partnership is a free trade agreement between the Asia-Pacific nations. of Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand the Philippines, Singapore, South Korea, Thailand, and Vietnam The 15 member countries account for about 30% of the world’s population (2.2 billion people) and 30% of global GDP ($26.2 trillion) as of 2020, making it the biggest trade block in…

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Australian Singapore Digital Economy Agreement Summary Key Outcomes

The Australia-Singapore Digital Economy Agreement (DEA) upgrades the Singapore-Australia Free Trade Agreement (SAFTA) through a new Digital Economy chapter, providing modernised trade rules that assist businesses and consumers to engage with and benefit from digital trade and the digital economy.Key outcomes from the DEA include: Cross-border data flows and location of computing facilities Allows for…

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Australia Signs Worlds Largest Free Trade Agreement

Australia has signed up to the landmark Regional Comprehensive Economic Partnership (RCEP) trade agreement. The move was announced on November 15 in a joint statement by the Hon Scott Morrison, Prime Minister, and the Hon Simon Birmingham, Minister for Trade, Tourism and Investment. The agreement took eight years to negotiate.RCEP is a regional free trade…

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Time to go global

Australian Small Business and Family Enterprise Ombudsman Kate Carnell Going global is increasingly easier to do as our digital capabilities become more advanced – so why aren’t more Australian SMEs doing it? While SMEs in G7 countries account for an average of 25% of export goods, Australia continues to lag behind at just 14% of…

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