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8 October 2024
Western Australian
agrifood export eNews
Western Australian primary industry exports to the UAE are set to benefit from improved market access, with negotiations for the Australia-UAE Comprehensive Economic Partnership Agreement (CEPA) having recently concluded.
The new agreement will eliminate tariffs on over 99% of Australian exports to the UAE (by value). This will generate substantial tariff savings, with Federal Trade Minister Don Farrell highlighting major benefits for primary industries. “This is a very good deal for Australian farmers and producers, including beef and sheep producers, with estimated tariff savings of $50 million each year for our food and agricultural exports alone.”
The CEPA introduces Australia’s first standalone chapter on sustainable agriculture and food systems, acknowledging the sector’s role in food security, climate resilience, and environmental sustainability while strengthening cooperation on animal welfare protections.
CEPA also contains commitments to support micro, small, and medium-sized enterprises (MSMEs) by facilitating trade and investment opportunities. A dedicated online hub will provide resources for MSMEs, and efforts to address trade barriers will promote international engagement. The agreement sets a foundation for future cooperation and sustainability in agriculture and beyond.
Western Australian primary industry exports to the UAE were valued at $407 million in 2023-24, with the Gulf nation being a significant market for oilseeds, red meat, grains and fresh produce among other products.
Entry into force for the Australia-UAE CEPA is expected in mid-2025.
For more information on the agreement, visit the Department of Foreign Affairs and Trade.
Source and image: DFAT
Western Australia hosted 11 premium wine buyers from 10 Chinese companies from 29 September to 6 October 2024, with a focus on premium wines, and specific interest in wines of WA provenance.
Regional Development Minister Don Punch welcomed the first inbound Chinese wine trade mission to Western Australia since the lifting of wine tariffs earlier this year.
The delegation tour featured curated producer tastings, regional masterclasses, trade showcase events, and exploration of the unique landscapes of the Great Southern and Margaret River regions.
“It’s fantastic to be here in the Great Southern, which produces world-class wines historically sought after by the Chinese market,” said Punch.
“This trade mission marks the beginning of this re-entry and is expected to reignite trade relationships and subsequent exports for Great Southern and Margaret River premium wine producers.”
This trade mission follows the Western Australian Government’s funding boost to the WA Wine Industry Export Growth Partnership. It marks a pivotal moment for the Australian wine industry, which has faced challenges in recent years.
Source: WA Gov | Image: iStock (SeventyFour)
We need your assistance to develop new export training!
The Department of Agriculture, Fisheries and Forestry wants to hear from everyone involved in exports to understand what the training needs are and how training can be most effective. We especially want to hear from those involved in regulatory audits, approved arrangements and export requirements. We want to hear from as many participants in the industry as possible, please encourage your whole team to take part in providing input.
Use this link to provide your input.
This should take approximately 15 minutes to complete and will be open from 01 October 2024 - 18 October 2024.
You don't want to miss out on your opportunity to provide input to the development of training for your industry. Your views will help us understand the training experience of dairy, eggs and fish businesses and regulators. The information collected in this survey will inform the development of technical training and support resources. All information provided is anonymous and remains confidential in accordance with the Privacy Act 1988.
Any questions please contact: dairyexportreform@aff.gov.au
Source and Image: DAFF
Austrade invites expressions of interest from Australian companies to participate in the Vietnam Tech Fest Program 2024 in Hanoi and Hai Phong from 26-28 November 2024. Expressions of interest are invited from Australian tech companies with capability across Cybersecurity, Agtech or ICT related.
This Landing Pad in-market program will support export-ready tech scaleups to develop valuable connections, identify commercial opportunities, and refine value propositions.
Participants will have the opportunity to:
- engage directly with industry partners and key customers
- deepen understanding of the Vietnamese tech market dynamics, regulations and opportunities
- refine value propositions and go-to market strategies in consultation with in-market experts and mentors
- pitch to key industry players and engage in targeted business matching opportunities.
As part of the program, participants will take part in the Vietnam Tech Fest Summit 2024 from 26-28 November, run by the Vietnamese Ministry of Science & Technology.
This program is intended for established high-potential Australian tech scaleups, who are exploring Vietnam as a growth market.
Express your interest by 14 October 2024.
Source and image: Austrade
Due to close proximity to Australia, large populations and strong economic growth, Southeast Asia is an attractive region for Australian wine exporters to consider, particularly in the emerging wine markets of Thailand, Vietnam, Philippines and Indonesia. The four countries have a combined population of over half a billion people. While wine currently has a relatively small share of the total alcoholic drinks market in each market, wine consumption is forecast to grow in the next five years. In contrast, wine consumption is forecast to continue to decline in major, established markets such as Australia, the United Kingdom and the United States.
The region is a key focus in Wine Australia’s market diversification strategy. One key activity in the short-term is the Southeast Asia Roadshow, to be held from 7 to 16 October 2024. This an opportunity for Australian wineries to showcase their brands to wine importers, wholesalers, distributors, key trade and media in the Thailand, Vietnam, Philippines and Indonesia markets. Wine Australia and Austrade are collaborating to host the roadshow, which will follow a number of promotional activities in the focus markets and capability building for participants.
To help maximise impact of the roadshow, wine education and other activities in market will build awareness and momentum for Australian wine amongst target trade and media, whilst capability building and market briefings for participants will provide participating wineries with insights such as market realities and nuances; regulations; wine consumption and sales channels; and business cultural practices, ensuring everyone is well informed to make decisions about export potential and marketing strategies.
Source: Wine AU | Image: Adore Stock
Global goods trade has continued to recover in the third quarter of 2024 after demand for traded goods stalled in 2023 amid high inflation and rising interest rates, according to the latest WTO Goods Trade Barometer. Despite the positive signal from the barometer index, the outlook for trade remains highly uncertain due to rising geopolitical tensions, ongoing regional conflicts, shifting monetary policy in advanced economies and weakening export orders.
The Goods Trade Barometer is a composite leading indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. Barometer values greater than 100 are associated with above-trend trade volumes while barometer values less than 100 suggest that goods trade has either fallen below trend or will do so in the near future.
The latest reading of 103.0 for the barometer index (represented by the blue line above) is above both the quarterly trade volume index (represented by the black line) and the baseline value of 100 for both indices, suggesting that merchandise trade volume growth should remain positive in the second and third quarters of 2024 once official statistics for these periods become available.
Source and image: WTO.org
Further information
Agribusiness, commercial fishing and aquaculture news from the Department of Primary Industries and Regional Development (DPIRD). If you have any questions or information to share, please email export@dpird.wa.gov.au.
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Important disclaimer
The Chief Executive Officer of the Department of Primary Industries and Regional Development and the State of Western Australia accept no liability whatsoever by reason of negligence or otherwise arising from the use or release of this information or any part of it.
Copyright © State of Western Australia (Department of Primary Industries and Regional Development), 2024.
