The substantial benefits secured through the historic China Australia Free Trade Agreement (ChAFTA) are set to start flowing from 20 December, the Minister for Trade and Investment Andrew Robb has today announced.

This follows a critical ‘exchange of notes’ in Sydney between Australia’s Ambassador-designate to China Jan Adams and Chinese Ambassador Ma Zhaoxu which formally confirms that both Australia and China have now fulfilled their respective domestic requirements to enable ChAFTA to enter into force.

Mr Robb said this was a most significant moment as the government’s key objective – despite a very tight timeframe – was to see ChAFTA operational before the end of 2015.

“This will deliver a very material early harvest for our exporters in the form of two rounds of annual tariff cuts in quick succession. The first round of tariff cuts will occur on 20 December followed by a second round on 1 January 2016,” he said.

“This will save our exporters hundreds-of-millions-of-dollars in extra tariff payments next year alone compared to if entry into force had been delayed until sometime in 2016. The National Farmers’ Federation estimates our agriculture sector alone is set to save around $300 million.”

Mr Robb said this outcome would immediately enhance our competitive position in the world’s second biggest economy which will be good for growth and job creation. Our dairy industry for example expects ChAFTA to result in 600-700 extra dairy jobs in the first year alone.

“This is the most favourable trade deal that China has done with any developed economy and it will put us in the box seat to further capitalise on China’s rising middle class and increasing demand for the types of high quality goods and services that Australia can and does provide,” Mr Robb said.

On entry into force, more than 86 per cent of Australia’s goods exports to China (worth more than $86 billion in 2014) will enter duty free, rising to 96 per cent when ChAFTA is fully implemented.

Australian services suppliers and investors will also be able to reap the rewards of new and improved levels of access in China from 20 December. Consumers will also benefit from more affordable Chinese goods such as electronics, clothing and other household items as tariffs are eliminated.

ChAFTA’s entry into force rounds out a powerful trifecta of trade deals that the government has sealed with three of our four largest export markets – China, Japan and Korea – covering 49 per cent of our exports.

Together with the Trans-Pacific Partnership Agreement (TPP), these agreements will provide unprecedented access for innovative Australian enterprises to the world’s largest and most dynamic markets.

“In this critical post-mining boom period, the government has very deliberately pursued an aggressive trade and investment agenda to support the transition of our economy by adding diversity to what we do,” Mr Robb said.

Businesses can search for product-specific ChAFTA tariff information and guidance on rules of origin through an innovative new FTA Portal. A guide for exporting and importing goods, providing step-by-step advice ahead of entry into force, is also available.

source:http://trademinister.gov.au/releases/Pages/2015/ar_mr_151209.aspx

Singapore is a strategic gateway for Vietnamese agriculture and seafood exporters to make inroads into other markets, experts commented at a trade exchange programme in Singapore on November 21.The event drew nearly a hundred of businesses from the two countries.

Deputy head of the Ministry of Industry and Trade’s Export-Import Department Tran Thanh Hai highlighted rice, coffee, tea, vegetable, fruits, fine art and handicraft products as strengths of Vietnam.Meanwhile, Singapore has advantages in processing, packaging, and increasing product values as well as management, marketing and broad relations with foreign partners, he noted.

Vietnam-Singapore trade posted an annual average growth of 12 percent over the past three years.Vietnam grossed 2.93 billion USD from exports to Singapore in 2014, a yearly increase of 10.4 percent, while importing 6.83 billion USD worth of goods in the period, a year-on-year rise of 20 percent.

In the past ten months of 2015, Vietnam’s exports to Singapore expanded by 30 percent year on year to 3.1 billion USD.

Michael Boddington from Asian Agribusiness Recruitment Training Development (AARTD) has been involved in agribusiness in Asia since 2000. AARTD has office both in Vietnam Ho Chi Minh City and China Beijing. So AARTD has a thorough understanding of the Vietnam and China agribusiness industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email: michael@aartd.com

Source: http://en.vietnamplus.vn/vietnam-expands-agrofisheries-market-via-singapore/85087.vnp

Viet Nam’s tra fish exports to China and Hong Kong (China) recorded strong growth in the first 10 months of this year, hitting US$122 million, representing a year-on-year increase of nearly 50 per cent.

With this pace, it is forecast that China will become one of the three largest importers of Vietnamese tra fish apart from the US and Europe, said Deputy Chairman and General Secretary of the Viet Nam Pangasius Association Vo Hung Dung.

In the January-October period, Viet Nam’s tra fish export value reached over $1.2 billion, 9.6 per cent lower than that of the same period last year due to tumble in shipments to the US and Europe.

The association will work to promote aquaculture models under the Vietnamese Good Agricultural Practices (VietGAP) standards and strictly implement Decree No 36/2014/ND-CP on growing, processing and exporting catfish, towards ensuring quality and increasing competitiveness of tra fish products in new markets.

Viet Nam’s tra fish products have been sold in 113 countries and territories worldwide. Tra fish export volume and value in new markets such as China, Brazil and Mexico have been rising, while those in traditional markets have been slowing.

Michael Boddington from Asian Agribusiness Recruitment Training Development (AARTD) has been involved in agribusiness in Asia since 2000. AARTD has office both in Vietnam Ho Chi Minh City and China Beijing. So AARTD has a thorough understanding of the Vietnam and China agribusiness industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email: michael@aartd.com

Source: http://vietnamnews.vn/economy/278781/tra-fish-exports-to-china-grow.html

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