Dear Subscriber
Welcome to the December edition of Wade Trade News - the latest edition of Wade World Trade's own free bulletin of news and hot tips in international trade that are worth following up. This month you'll discover leads and information covering Vietnam, China, Australia and southern Africa .... and a couple of websites that you'll find invaluable for contacts and research.
WTO Welcomes Vietnam As 150th Member
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The World Trade Organisation (
www.wto.org) recently announced that Vietnam has been approved for membership. The booming Asian nation is to become the 150th member of the WTO, following 11 years of trade negotiations. Vietnamese Trade Minister Truong Dinh Tuyen said the negotiations for WTO membership closely accompanied his country's economic reforms known as 'doi moi'. He said 'It is these reforms that ensure Vietnam's constant economic growth, forming a firm foundation for the accession as a whole. On the other hand, WTO membership also helps Vietnam refine its reform process, creating opportunities for trade expansion, which is an important tool for economic growth.'
According to the latest WTO data, Vietnam's merchandise exports were US$26.5 billion in 2004 and its imports were US$32 billion. The Vietnam Trade Catalogue at
www.info.vn is a handy source of information, lots of trade contacts and links.
Even More China-EU Trade Expected
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China and the European Union (EU) have now agreed an eight-point consensus on further developing trade relations and enhancing intellectual property rights. In their 21st China-EU Economic and Trade Joint Committee meeting the two sides agreed to settle 'trade frictions' through friendly consultations, rather than dispute, and speed up preparations for new partnership framework agreements.
At a press conference Chinese Commerce Minister Bo Xilai said that Sino-EU trade relations enjoy steady and rapid development at present, but that both parties should look for new ways to 'energise' future relationships. EU Trade Commissioner Peter Mandelson praised trade links as a vital engine to power the Sino-EU relationship. He said that the EU is willing to settle any trade disputes through dialogue and consultations and so maintain smooth trade relations. However, Bo criticised the EU's anti-dumping investigation against Chinese shoes and expressed his regrets on reporting an auto parts dispute to the WTO. He called on the EU to recognise China's status as a full market economy.
The EU remains China's biggest trading partner this year. Bilateral trade exceeded US$200 billion in 2005.
Opportunities To Trade Australian Food & Beverages
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The food and beverages industry is one of the fastest growing export drivers in the nine manufacturing sectors in Australia - according to the recent 'Food And Beverages Market: A Global Review 2006-07' by RNCOS. In 2006 Australia exported meat worth US$7.85 billion, wine worth US$2.7 billion and dairy products worth US$2.95 billion. The industry is already one of the largest industrial sectors in Australia, accounting for around 20% of all production. Most exports of wine and meat are to the USA, while dairy products are extensively exported to the Middle East and Asia.
While the Australian domestic food and beverages market is mature, export opportunities are growing fast. For example, the wine industry has shown remarkable growth within a short period of time, largely because of strong growth in exports to the UK - which imported 263 million litres of Australian wine in 2004/05. Globally, the food and beverage market is forecast to reach a value of around US$1,180 billion by 2010.
If you want to trade with Australia your first port of call should be the Austrade site at
www.austrade.gov.au. The Department of Foreign Affairs and Trade homepage at
www.dfat.gov.au is good for trade news and policy. Also take a look at
www.australia.gov.au.
Coal To Become South Africa's Biggest Export
****************************************Coal will become a bigger South African export than gold when the expansion of the country's key coal export terminal at Port of Richards Bay is completed in 2009. The country's 'black gold' will earn South Africa approximately R27 billion in revenue by then - a R6 billion increase on current export earnings. Gold exports, the country's second largest export product after platinum, currently earn South Africa about R27 billion annually.
Bearing in mind dwindling oil and gas resources worldwide, combined with greater demand, coal is expected to become a more important part of the energy supply mix in future. It is possible to get involved in trading coal as an import-export agent without ever handling or seeing the goods you buy and sell. Useful sites for South Africa are The Department of Trade and Industry South Africa site at
www.dti.gov.za and the South African Industry Trade & Commerce Directory at
www.tradepage.co.za.
Go Right To The Top .... In Seconds
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When you're looking for international trade links, or need answers to important questions, embassies, consulates and official trade missions can be very helpful. But, if you've tried it, you'll find they're often not very easy to find. Normal web searches can produce all sorts of results, many of which aren't the official site you need. However, here's a great site which can link you to any embassy in almost any country worldwide: Embassy World at
www.embassyworld.com. Just tap in which nation's embassy you require and in which country and the search engine will provide you with the contact information you need and a link to the embassy's own website!
Make Hundreds Of New Contacts Worldwide !
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Here's a site worth putting on your 'favourites': The World Trade Centers Association (WTCA) is an federation of around 300 World Trade Centers in 100 countries. The WTCA works across national and political boundaries to help its members do more in international trade. Once you've found a member you can link to valuable help available from all the other members including local trade information and research, trade opportunities, accessibility to trade shows and exhibitions, business services in many worldwide locations, seminars, workshops and trade missions. To find out more visit the WTCA's website at
www.wtca.org.
Southern Africa To Have Its Own 'EU'
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Trade opportunities within southern Africa could improve with the news that the Southern African Development Community (SADC) has asked its Ministerial Task Force to develop a 'road map' for the implementation of a SADC Customs Union programme by 2010. The recent Extraordinary Summit of Heads of State and Governments in Midrand, South Africa, reaffirmed its commitment to the concept of an 'EU' type organisation in southern Africa and asked its Ministerial Task Force to look at the best way to establish one. The customs union will comprise Tanzania, Mozambique, Malawi, Zambia, Zimbabwe, Botswana, Lesotho, Swaziland, Mauritius, Madagascar, the Democratic Republic of Congo, Botswana, Angola and South Africa. In preparation for the union SDAC also wants a Free Trade Area (FTA) to be set up in the region in 2008.
Reliable information on what's going on in southern Africa is difficult to find. All Africa at
www.allafrica.com is the site we recommend for everything you need to know.
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