Australia-India Economic Cooperation and Trade Agreement (AI ECTA)
Australia and India have signed a new interim trade agreement, the Australia-India Economic Cooperation and Trade Agreement (AI ECTA). According to a recent report from the U.S. Department of Agriculture (USDA), more than 85% of Australian goods exports will have tariffs eliminated. Along with this agreement, Australia and India have agreed to promote agricultural trade and will work toward concluding an enhanced agricultural Memorandum of Understanding (MoU).
The agreement will see a removal of import tariffs on Australian macadamias into India over the next seven years, making India a very attractive market for Australian macadamia exporters.
More information
The agreement will see a removal of import tariffs on Australian macadamias into India over the next seven years, making India a very attractive market for Australian macadamia exporters.
More information
EU: Agri-food Trade Report Jan-Dec 2021
The latest EU agri-food trade monitoring report covered the period January to December 2021. It showed that the total value of EU agri-food trade reached €328.1 billion in 2021, representing a year-on-year increase of a 7%, and bringing a trade surplus of €67.9 billion, up 8% compared to 2020.
According to the report, EU's main source of agri-food imports in 2021 was Brazil, with values growing by 19% to reach € 13.5 billion. On the other hand, imports from the UK saw a major decline, falling by €3.8 billion or 25% year-on-year, and imports from the US also fell by €366 million or 4%. The decrease in imports from the US was primarily driven by reduced imports of tropical fruit, nuts and spices (↘€ 352 m, -14%).
More information
According to the report, EU's main source of agri-food imports in 2021 was Brazil, with values growing by 19% to reach € 13.5 billion. On the other hand, imports from the UK saw a major decline, falling by €3.8 billion or 25% year-on-year, and imports from the US also fell by €366 million or 4%. The decrease in imports from the US was primarily driven by reduced imports of tropical fruit, nuts and spices (↘€ 352 m, -14%).
More information
EU: Global Gateway Africa-Europe Investment Package
The Global Gateway Africa-Europe Investment Package is the first regional package under the EU's broader Global Gateway investment strategy. It aims to mobilize up to €150 billion in investments between 2021 and 2027 for Africa to support a strong, inclusive, green and digital recovery and transformation and is expected to support the renewed partnership agreed at the EU-AU Summit on February 17-18 in Brussels.
European representatives traveled to Niger, Ivory Coast and Ghana to strengthen the EU's partnership with these key regional partners under the Global Gateway strategy. Ms. Urpilainen, Commissioner for International Partnerships, launched the new cycle of cooperation under the Neighborhood, Development and International Cooperation Instrument (NDICI-Global Europe), with the signature of the several cooperation projects in the areas of sustainable cocoa, agricultural water management, climate, governance, security, vocational training and education.
More information
European representatives traveled to Niger, Ivory Coast and Ghana to strengthen the EU's partnership with these key regional partners under the Global Gateway strategy. Ms. Urpilainen, Commissioner for International Partnerships, launched the new cycle of cooperation under the Neighborhood, Development and International Cooperation Instrument (NDICI-Global Europe), with the signature of the several cooperation projects in the areas of sustainable cocoa, agricultural water management, climate, governance, security, vocational training and education.
More information
UK-Canada Begin Negotiations for New Trade Agreement
This new agreement will build on the UK-Canada Trade Continuity Agreement signed in 2020.
Benefits could include:
Benefits could include:
- Boosting the UK’s world-renowned services sector by making it easier for services providers to trade in Canada, benefiting areas such as research and development, legal services, and finance.
- Reducing barriers for goods exporters such as the processes and administration that disproportionately affect SMEs.
- Stimulating more Canadian investment in the UK.
- Helping women access the full benefits of trade.
- Enhancing cooperation on tackling climate change by promoting green trade and supporting commitments including those in the Paris Agreement.
Vietnam-New Zealand Promote Cooperation in Agriculture
On April, 6, 2022, Vietnam and New Zealand affirmed at a second high-level agricultural dialogue their commitment to deepening both countries’ agriculture and trade relationships. The two sides signed the Action Program to implement the Strategic Partnership for the period of 2021-2024. Cooperation in the field of agriculture helps the two countries develop their main agricultural interests, including boosting bilateral trade, reducing greenhouse gas emissions in agriculture, and enhancing food safety.
More information
More information