Australia and Taiwan in trade talks

Source:  Sydney Morning Herald, 17th December 2020

Australian officials have been talking with Taiwan about boosting trade between the two economies as the Morrison government looks for alternative markets for billions of dollars worth of exports hit by China’s trade strikes.

Officials from the Department of Foreign and Affairs and Trade have held meetings with counterparts in the Taiwan government in recent weeks to discuss more trade opportunities.

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US seafood outlook is bright thanks to the holiday season

Source:  Seafood Source, 10th December 2020

Restaurants, grocery stores, and online seafood suppliers are expected to have one of the brightest holiday sales seasons on record, in part due to the imposition of dining restrictions in several states.

The National Retail Federation forecasts a spike of between 3.6 percent and 5.2 percent in sales of all food and non-food items in November and December, compared to a 4 percent increase in 2019.

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Hong Kong restricts dining in fourth wave 

Source:  Aljazeera, 8th December 2020

Since 8th December, Hong Kong has banned dining in restaurants after 6pm and ordered the closure of gyms, beauty salons and massage parlours in a bid to contain a fourth wave of coronavirus infections in the densely populated city.

Those arriving in Hong Kong are required to take an extra coronavirus test three weeks after their arrival, in addition to the tests required immediately after landing and towards the end of their mandatory two-week quarantine.

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Toyosu Market's high-end fish going online

Source:  Japan Times, 2nd December 2020

With opportunities to stay home increasing amid the pandemic, many consumers are looking to enjoy high-quality fish from Japan's largest fish market that only once chefs and other professionals were able to acquire.

To reach out to the general public, wholesalers and intermediate wholesalers participating in auctions at Toyosu are using e-commerce, which has expanded rapidly amid the coronavirus crisis, to deliver fish straight to consumers.

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Image:  Kyodo

Update:  Australia - UK FTA negotiations

Source:  FRDC, 17th December 2020

Australia and the United Kingdom launched negotiations for a free trade agreement in June 2020. Three rounds of negotiations have been held to date, with the fourth scheduled for February 2021.

Negotiations are at an early stage with both parties seeking to identify areas of common interest that could be readily agreed. Preliminary discussions on sensitive areas of trade and investment, that will require significant negotiation, have also commenced.

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New group in Hong Kong pushing traceability

Source: Seafood Source, 11th December 2020

A new database launched by a Hong Kong industry group could prove a vital tool in triggering action towards traceability.

The Seafood Risk Assessment website was launched during a webinar organised by the Hong Kong Sustainable Seafood Coalition to help its seafood trading and buying members better understand the sustainability risks of seafood imported into the city.

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Image:  Esther Poon

Japan passes law to ban import of IUU seafood

Source:  Seafood Source, 9th December 2020

Japan passed a law on 4th December to ban the importation of illegal, unreported, and unregulated (IUU) seafood.

The new law will require records on catches and transfers to be gathered and submitted to the government in order to establish traceability. For imports, a “certificate of legal catch” from a foreign government will be required.

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Image:  WWF Japan

Bankruptcies in Japan's restaurant industry to hit all-time high 

Source: Japan Times, 12th December 2020

The number of bankruptcies in Japan’s restaurant industry will likely hit an all-time high in 2020 as many establishments struggle to restore their cash flow, the results of a recent survey showed.

According to the survey conducted by Tokyo Shoko Research, bankruptcies of companies with debts of at least ¥10 million from January to November stood at 792, an increase of 8 percent compared with the same period last year.

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Image:  Kyodo

Economic growth rate lowest since 1995 

Source:  Asahi Shimbun, 18th December 2020

The prospect for Japan’s real economic growth rate for fiscal 2020 is worse than previously thought, setting a record low. 

The new estimate marks Japan’s lowest growth rate since fiscal 1995, when comparable data became available.

The country will record two consecutive years of negative growth in fiscal 2020, with fiscal 2019 at minus 0.3 percent growth.

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