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THE INSTITUTE FOR INTERNATIONAL TRADE
A MESSAGE FROM THE DIRECTOR
As vaccine progress continues to bear good news, governments can begin to look towards the post-pandemic economic recovery, in which trade will play a crucial role. Australia has made good progress recently. In our feature article, Industry Professor Jane Drake-Brockman argues that the Australia-Singapore Digital Economy Agreement is a comprehensive 21st century digital trade agreement that represents global leadership, and offers a compelling digital trade architecture for the multilateral system.
In our second piece, IIT Senior Visiting Fellow Andrew Stoler provides insights into the prospects for Australia to deepen trade relations with a post-Brexit UK. For those interested in exploring the potential benefits of an Australia-UK trade agreement see our upcoming webinar event on this topic, featuring IIT’s Jean Monnet Professor, Richard Pomfret.
Our third policy article outlines the potential benefits of harnessing established regional ties in the Pacific with low infection risk countries, given that even with a successful vaccine in hand it will take time to vaccinate populations. Global international travel and tourism will thus recover slowly, so regional opportunities should be leveraged.
On the education front, we are pleased to announce in partnership with the Global Trade Professional Alliance the launch of the ‘Adaptive Trade Leadership in a Globalised World’ program for professionals. The course develops adaptive thinking that is crucial for a rapidly evolving environment. Furthermore, those considering a career in international trade are invited to follow the link below to information on our core offerings. Here you will find a path to harness your passion and gain the trade expertise you need to transform your career.
Lastly, two announcements. Firstly, a call for research grant applications by the Jean Monnet Network: Trade & Investment in Services Associates (TIISA). Secondly, TIISA also wishes to announce an exciting competition for ‘best research paper’ to PhD and PhD-equivalent Students, Young Professionals and Early Career Researchers. Follow the links below for further information.
Enjoy the read!
Professor Peter Draper
POLICY AND ENGAGEMENT
Australia has achieved its most comprehensive deal on digital trade. The government has put down clear markers for other bilateral and regional trade negotiations, including with the EU; and taken a global leadership role, along with Singapore, in signalling vital directions for the WTO negotiations on Electronic Commerce (e-commerce).
By Jane Drake- Brockman, Industry Professor, Institute for International Trade & Founder, Australian Services Roundtable
PROSPECTS FOR AUSTRALIAN FREE TRADE WITH A POST-BREXIT UNITED KINGDOM
Now that the United Kingdom (UK) is once again pursuing an international trade policy independently of its previous membership in the European Union (EU), the UK Government has made clear that it intends to pursue free trade agreements (FTAs) with “Anglosphere” countries (United States, Canada, Australia and New Zealand).
By Andrew Stoler, Senior Visiting Fellow, Institute for International Trade & Former Deputy Director General, World Trade Organisation
COVID-19 PROVIDES A RARE CHANCE FOR AUSTRALIA TO SET ITSELF APART FROM OTHER REGIONAL POWERS
In an article featured in The Conversation recently, Professor Peter Draper and Mr Jim Redden made the case for an Australia-New Zealand-Pacific 'travel bubble' buttressed by implementation of the trade and investment agreement known as the Pacific Agreement on Closer Economic Relations (PACER) Plus, as the best assistance package to the Pacific Islands.
By Professor Peter Draper, Executive Director & Mr James Redden, Senior Visiting Fellow, Institute for International Trade
Even though research earlier this century suggested market access barriers were far more important than domestic subsidies in restricting global farm trade, new analysis suggests farm subsidies have become far more important in recent years. Australia in particular could gain from their reduction abroad. In the WTO’s Agriculture Committee, members seem willing currently to look only at subsidies. That makes sense, partly because industrial subsidies are now in focus too, but also because new analysis suggests farm subsidies have become far more important in recent years.
Building Resilient Teams for International Trade
As governments across the globe respond to protect their citizens lives and livelihoods, the resulting restrictions on the movement of people, capital, goods and services across borders has proven catastrophic for many businesses working in Global Value Chains (GVCs).
For many, the challenge of navigating an increasingly complex host of political, economic, regulatory and institutional barriers has simply proven too great. Since February 2020, thousands of businesses working in GVCs have closed their doors for good, while countless others continue to struggle to survive the global pandemic.
This has focussed significant attention on the potential shortcomings of past business models, the configuration of GVCs, and raised questions about how businesses can build the resilience needed to withstand the challenges of the future.
Have You Considered a Career in International Trade?
Our graduates are having an impact across the globe in their roles as export managers, diplomats, international development officials, development assistance officers, international marketing managers, trade and investment consultants and trade negotiators.
Join our community of change-makers by enrolling in one of our post-graduate degrees today!
EVENTS
The Institute for International Trade and the Global Trade Professionals Alliance and the Supply Chain Resource Cooperative have expanded the Business Health Check Series to include new and relevant topics.
CALLS FOR APPLICATIONS
TIISA Research Grants
The EU Jean Monnet Network: Trade & Investment in Services Associates (TIISA) has awarded AUD$35,000 of research grants to 6 successful applicants including 2 from IIT, Professor Jane Drake-Brockman and Harry Wardana, PhD student. Other successful applicants are Professor Hein Roelfsema, (Utrecht University), Radka Sabolova and Aili Tang (Orebro University) and Yi Zhang (Xian Jioatong University).
A further call for research grant applications is underway with a submission deadline of 14 September 2020.
TIISA Young Scholars Award
The EU Jean Monnet Network: Trade & Investment in Services Associates (TIISA) is offering a Paper Award for PhD and PhD-equivalent Students, Young Professionals and Early Career Researchers. The policy research paper can be on any topic related to international trade and investment in services, with some relevance for, or application to, the process of economic integration in services, including in the European Union.
Applications are open until 21 September 2020.
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