Two different Western Australian fisheries research projects have received grant funding totalling £97,080 (AUD$172,000) from the international Marine Stewardship Council's (MSC) Ocean Stewardship Fund. These prestigious grants will help the State's sustainable fisheries and environments remain resilient.

The first research project focuses on understanding the impacts of recreational fishing on endangered birds in nearby wetlands, and on endangered shorebirds that migrate to Mandurah's waterway.

The second project will see scientists and researchers from the WA Department of Primary Industries and Regional Development develop a new deep-sea camera system. The camera will be used to monitor habitat-risks adjacent to crab traps, which will help inform management measures for the fisheries.

Seafood is a key WA export and the State's producers have an enviable reputation as they maintain the world's gold standard in fisheries sustainability certification through the MSC. These latest projects will further help WA achieve its goals of minimising the impact of fisheries on aquatic environments and achieving lasting sustainability. More... Source:  WA Minister for Fisheries | Photo: DPIRD [Prototypes of the deep-sea camera, which DPIRD scientists are developing for the West Coast Crystal Crab Fishery.]

The European Union (EU) is currently facing economic and trade challenges, brought on by the Ukraine-Russia conflict. This will have implications for the rest of the world, as the EU will be looking for ways to redirect trade and create new networks.

To give companies a better understanding of doing business in the European region, a webinar will take place at 2 pm AWST on Thursday 28 April 2022. The Global Market Insights seminar on European markets will be hosted by the Department of Foreign Affairs and Trade, Austrade, Export Council of Australia, and private sector experts.

An expert panel will discuss the political and economic conditions in Europe, commercial opportunities, and tips for success when entering EU markets.

Registration is required for this free event. Source and Image: DFAT 

The Inaugural Sustainable Futures Conference will be held at 1pm this Friday 29 April at the Gerald Hotel in Geraldton and online.

Join the conversation with leaders in the field working together towards a sustainable future for Western Australia's fisheries and aquatic natural resources.

Hosted as a part of Shore Leave 2022, this new event will be a chance to hear what effects marine heatwaves are having on our oceans, and to ask the experts what’s currently being done to safeguard our fisheries into the future.

Key topics will include: 

• Impact of climate change and marine heatwave effect on fisheries.
• Commercial and community benefits of sustainability.
• The role of the market to recognise and reward sustainable fishing practices.
• Ecosystems-based fisheries science for the Abrolhos fish habitat protection area. 

Tickets are free, but you need to register on the website.  Source and Image: Shore Leave 2022

The Asia-Pacific Economic Cooperation (APEC) organisation, an inter-governmental forum for 21 member economies in the Pacific Rim, has released its Trade Repository.  This free resource provides an easy way to compare trade rules in the APEC region.

The Trade Repository is APEC’s online source of members’ trade and tariff information available on:

• Most favoured nation tariff rates.
• Preferential tariff rates.
• Rules of origin on existing regional and free trade agreements.
• Best practices in trade facilitation.
• Domestic trade and customs laws and regulations.
• Procedures and documentary requirements for imports and exports.
• Authorised economic operators (AEOs) and information on mutual recognition arrangements.
• List of AEOs (as available).

The Trade Repository is updated continuously and new information is added based on availability. Source and Graphic: APEC

Global economic prospects have been set back recently, largely due to the Russia-Ukraine conflict. This conflict has unfolded before the global economy has had a chance to fully recover from the COVID-19 pandemic. The International Monetary Fund (IMF) projects that global growth will slow from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023.

Russia is a major supplier of oil, gas, and metals, and together with Ukraine, of wheat and corn. Reduced supplies of these commodities will drive up their prices. Even before the war, inflation had been rising in many countries due to supply-demand imbalances and policy support during the pandemic. The IMF projected inflation in 2022 will reach 5.7% in advanced economies, compared with 3.9% projected in January this year.

A more aggressive monetary tightening response due to rising inflation, and fiscal policy being constrained due to the recent spending on COVID-19, means that policymakers are now limited in their capacity to stimulate growth.

Despite this somewhat dim economic outlook, commodity exporting countries may benefit from the surge in energy and food prices. More... Source: IMF | Photo: Rinson Chory / Unsplash