Institute for International Trade

A message from the Director

Next week Australia’s trade negotiators will host their counterparts from the European Commission in the 14^th round of negotiations to conclude an FTA. While the mood music is good (now), some tricky issues remain on the table, such as resolving the geographic indications issue and securing better market access for Australian agriculture exports into the European market, and rules governing digital market access. Still, there is a feeling of quiet optimism that the deal will be done, potentially by mid-year. As I argued in a joint opinion with two European Members of Parliament (see the first feature piece), the deal will go a long way towards securing both parties interests in buttressing the rules-based international order. 

This point was underscored by Foreign Minister Penny Wong’s recent visit to Brussels. Europe is an important strategic partner for Australia in the vast Indo-Pacific region. While the Europeans are considerably behind the curve in figuring out how to manage relations with a revanchist China, their trade and investment policies are evolving in directions Canberra pioneered some time ago. In our second feature piece Jens Hillebrand Pohl dissects the EU’s flagship “Open Strategic Autonomy” policy in relation to trade policy, highlighting divisions amongst member states regarding how best to pursue it. In the third piece he analyses the EU’s recently established foreign investment screening mechanism, and shows why it still has a long way to go before becoming truly effective.

Further afield, those with an interest in the roles subsidies play in the international trading system would have been watching the trans-Atlantic fracas between Europe and the US over the latter’s Inflation Reduction Act. In case you missed it, the US is in the early stages of forking out around US$360 billion worth of subsidies to clean energy industries, inter alia electric vehicle batteries - that only North American companies and their FTA partners qualify for. The Europeans have just responded by announcing a subsidies package of their own. While no one seriously questions that to achieve clean energy transitions massive technological investments must be made, and that government subsidies have a role to play, the fracas contributes to building tensions at the heart of the global trading system. This is one amongst a number of issues we will be monitoring via our recently awarded Jean Monnet Centre of Excellence on Trade and Environment.

I hope you find these materials useful.

Best regards

Professor Peter Draper

POLICY & ENGAGEMENT 

Going Down Under — EU needs to finish trade deal with Australia

The European Parliament recently sent a delegation to Australia to strengthen our ties with strategic Indo-Pacific partners. This op-ed argues that these democratic allies and trade partners have a good opportunity to promote common values and rule-of-law trade through the under-negotiation EU-Australia free trade agreement.

Catharina Rinzema, Member of European Parliament (Renew Europe, The Netherlands), Morten Lokkegaard, Member of European Parliament (Renew Europe, Denmark) & Professor Peter Draper, Executive Director of the Institute for International Trade.

Jean Monnet Centre of Excellence in Trade & Environment

The European Commission is co-funding our Centre of Excellence in Trade and Environment at the Institute of International Trade and a Jean Monnet Chair in Trade and Environment, Professor Peter Draper.

Funded under the European Union Erasmus Plus Program, the Jean Monnet Centre of Excellence in Trade & Environment gathers leading academics from across The University of Adelaide with expertise in European Studies, including international trade, environment, business, entrepreneurship, and international relations to create a focal point of competence and knowledge on the European Union in the context of trade and environment.  

This innovative centre leverages existing expertise, activities, and networks across the institution to conduct cutting-edge research that seeks to understand and inform the development of environmentally friendly trade and investment policy across the European Union and Asia Pacific.

EVENTS

Third Australia-Europe Economic Relations Dialogue

This event series originally brought together a group of participants invited by the co-organizers, being the University of Adelaide and Johns Hopkins SAIS in Bologna. For this third iteration we turned to Friedrich Schiller University in Jena, Germany. 

As with the previous two Dialogues the theme was Australia-Europe economic relations, the European part being anchored on Germany as the key European economy. We continued with the successful, relatively informal, Dialogue format followed in the previous versions, with the emphasis on intimate, substantive conversations behind closed doors. We anchored the structure on contemporary matters framing evolving international trade agendas for both Australia and Germany/Europe: evolving geopolitical and security relations; the climate agenda and sustainability more broadly; and digital trade governance.

Proceedings were capped by a post-conference dinner at which the Australian Ambassador to Germany, and himself a key conference participant, presented a keynote address.

Meeting with Chinese Ambassador H.E. Xiao Qian

IIIT Executive Director Professor Peter Draper joined University of Adelaide delegation to meet with Chinese Ambassador H.E. Xiao Qian and his Embassy colleagues at the University.

Peter engaged in roundtable discussions, exploring a number of points of mutual interest in relation to building the University's connections with China

Peter reflected on China's increased engagement globally again, and Australia-China relations moving towards what will hopefully be a more productive footing.

STUDY WITH US

The Professional Certificate in International Trade (PCIT) will provide you with a practical understanding of current international trade and investment issues.

PCIT will provide you with an understanding of the political dynamics of the negotiating environment, and the opportunities and challenges presented to businesses by the globalised economy. 

PCIT is ideal if you are seeking a working knowledge of international trade.