Institute for International Trade, University of Adelaide

The EU’s newly proposed Carbon Border Adjustment Mechanism (‘CBAM’) seeks to mitigate the flow of jobs and investment into nations with less ambitious emission reduction pathways.

CBAM will operate to require importers to pay a carbon charge equivalent to that required of European producers, by 2026. Initially, CBAM will apply to imports of cement, iron, steel, aluminium, fertiliser, and electricity, before considering all 62 sectors involved in the EU’s emissions trading system.

In this recent IIT working paper, ten principles are proposed to guide the use of border adjustment mechanisms to reduce the extent of global environmental problems.
These guidelines are intended to assist the development of a framework by a ‘club of nations’ interested in managing the trade-related dimensions of global environmental problems, as well as to offer improvements for the EU’s CBAM proposal.

Read the working paper here:

Though recognised in the WTO and several FTAs, e-commerce in services is largely neglected in trade talks, with emphasis primarily on e-commerce in goods.

Services have been vital to the development of e-commerce and how it functions as an ecosystem. Not only do they provide the supply of the services, but they also enable the function for other goods and services.

The digital services trade has remained resilient throughout the pandemic and recent global crises, with trade in telecommunications witnessing a peak in internet traffic, and will continue to be significant in the digital economy.

The development of e-commerce in services has led to lower trade costs and reduced market entry barriers for small and medium-sized enterprises. Undoubtedly, e-commerce in services has proven to be a necessity for a sustainable global economy.

Read about how services are the DNA of e-commerce in our latest op-ed: https://iit.adelaide.edu.au/news/list/2022/06/06/services-the-dna-of-e-commerce

In a recent op-ed for the Australian Outlook, the IIT’s Dr Naoise McDonagh and Sascha-Dominik (Dov) Bachmann consider what kind of approach is needed to combat China’s economic coercion in the Indo-Pacific.

Existing frameworks in the region include the Quad, comprising of Australia, India, Japan, and the US, and the Resilient Supply Chain Initiative (RSCI) by Australia, India, and Japan. The analysis looks at the suitability of both as strategic vehicles for broad engagement in the region, before discussing the potential of Washington’s new Indo-Pacific Economic Framework (IPEF) to offer an alternative to China’s Belt and Road Initiative.

The IPEF represents an opportunity for a US-Australian cooperative framework among partners who share overall strategic goals and views on trade rules and norms, whilst also offering the region a geoeconomic framework that embodies an integration of security and economics.

Read the op-ed here:
https://www.internationalaffairs.org.au/australianoutlook/rebuilding-a-geoeconomically-secure-indo-pacific-economic-order/

Rebuilding a Geoeconomically Secure Indo-Pacific Economic Order - Australian Institute of International Affairs A comprehensive and coherent package of investment aimed at “like-minded” partners is needed to rebuild prosperity and counter China’s growing economic leverage in the Indo-Pacific. While there are various existing frameworks, these are either narrowly aimed or underdeveloped, and require a bi...

The Institute for International Trade (IIT) and the G20-related Trade and Investment Network (TIRN) invite you to join leading experts from 2pm to 3pm (CEST)/ 9.30pm to 10.30pm (ACST) on Wednesday, 4th May 2022 for an interactive discussion on The Russia-Ukraine War, Sanctions, and the G20’s Relations with Russia.

Register now at https://adelaide.zoom.us/webinar/register/WN_CagdsLaXTOe3snMlGS8b4w

Australia and India have each furthered their regional economic integration with the signing of the Australia-India Economic Cooperation and Trade Agreement (AI ECTA) this past month.

This historic trade agreement between Australia and India represents India’s first deal with a developed economy since 2011.

AI ECTA will mean the elimination of tariffs on more than 85% of Australian goods exports to India and 96% of Indian goods imports entering Australia, all the while strengthening the bilateral relationship between the two countries.

This move will offer Australia an advantage across various sectors, including agriculture, critical minerals, education and skills training, and healthcare, as well as foster a long-term growth opportunity for Australian businesses and workers.

Find out more in our latest op-ed:

India-Australia Free Trade Deal Offers Australia First Mover Advantage in World’s Fastest Growing Economy Natasha Jha Bhaskar, General Manager of Newland Global Group, a Sydney-based Australian corporate advisory firm specialising in the Australia-India space. AI ECTA is India’s first deal with a...

The Institute for International Trade, in the School of Economics and Public Policy, University of Adelaide was delighted to host Elisabeth Bowes, First Assistant Secretary in the Department of Foreign Affairs and Trade, to update us on the process and issues pertaining to expansion, as well as the general progress of the agreement.

On the international trade front, the CPTPP is Australia’s key regional trade agreement (RTA) that anchors modern trade and investment rules in a significant market access arrangement.

The CPTPP’s attractive power has led three countries to apply for membership, notably the United Kingdom, , and , whereas South Korea is actively considering an application.

China’s bid has attracted considerable attention, not least owing to its trade tensions with Australia. CPTPP members, including Australia, are considering these expressions of interest and how best to respond.

In the event with IIT, First Secretary Bowes highlighted that all accession candidates would have to meet the same strict criteria of the CPTPP, as well as have a good record upholding multilateral trade rules.

We heard that the United Kingdom CPTPP application is progressing and that there are commonalities with the newly signed UK-Australia bilateral FTA and existing CPTPP requirements.

The IIT would like to extend its thanks to our guest for sharing insights on the importance to Australia of fostering a modern, rules-based RTA, as well as the progress being made with its CPTPP partners.

It was a pleasure to have Deputy Head of Mission for Sweden's Embassy in Canberra, Per Linnér visiting the Institute for International Trade | University of Adelaide yesterday.

Per provided an excellent presentation on 'Sweden's Perspectives on the EU's Green Transition' as part of our Jean Monnet Centre of Excellent in International Trade and Global Affairs program. The talk was followed by a very engaged Q&A from our audience.

We thank the Deputy Head for sharing his insights with us, and look forward to future engagements with him and the Swedish mission to Australia.

In a webinar hosted by the Australian Institute of International Affairs South Australia, the IIT’s Dr Naoise McDonagh summarises the institutional evolution of China’s socialist market economy and presents his analysis on the tensions between China and liberal market economies.

He then argues that liberal democracies need to consider a new strategic trade framework for engaging China based on its existing economic model.

China's Socialist Market Economy: How and Why it Became a Systemic Rival to the Liberal Trade Order China’s leaders repeatedly talk about China as a socialist market economy. The country’s national constitution states that China is a socialist market econom...

The Organization of Women in International Trade is committed to fostering international trade and the advancement of women in business.

OWIT's global network has achieved empowering and positive impacts, providing opportunities for women globally to widen the reach of their businesses and connect like-minded women who are passionate about trade.

The Organization is accessible to both experienced professionals and those who want to pursue new business opportunities, encouraging perseverance and growth.

Find out more about OWIT here

https://owit.org/?fbclid=IwAR0djh2b8lL9NKsmVrajnX5jmAH07uh1OErSHQznVUHayQwuGvx3OoVTfGc

OWIT International – Organization of Women in International Trade International OWIT International is the global umbrella organization for chapters independently established in a specific geographic region. OWIT Chapters are formed, governed, and operated at the local level. OWIT Chapters host programs and events enabling their members to learn, network and forge professional r...

How can trade improve women's economic empowerment?

This question is explored by the Organisation for Economic Co-Operation and Development (OECD).

Part of OECD's work is to encourage trade policy-makers to consider how economic policies can build better lives for women and achieve gender empowerment.

Changes in global trade are impacting how women are affected by trade as workers, consumers, and traders.

Find out more here:

Trade and gender - OECD Changes in the global economy will impact how trade affects women as traders, workers and consumers.

International Women's Day has recently passed for 2022. However, many organisations work all year round to bring visibility to women's issues globally and explore the expanding opportunities for women in international trade.

For instance, in a recent publication, the World Bank explored how relevant progressions in global trade, such as the growth of the digital economy, have the potential to decrease gender inequality and enhance the role of women in trade through access to skills and education.

The publication, however, illustrates that much remains to be done to reduce discrimination against women and improve women's relationship with trade.

Read more here

Women and Trade: The Role of Trade in Promoting Women’s Equality Trade can dramatically improve women’s lives, creating new jobs, enhancing consumer choice, and increasing women’s bargaining power in society.

Her Excellency the Hon. Frances Adamson AC, Governor of South Australia and Prof Peter Høj AC, Vice-Chancellor & President of Uni Adelaide, plus special guests will discuss South Australia’s global future and its position post-COVID:

South Australia's Global Future Her Excellency the Honourable Frances Adamson AC, Governor of South Australia and special guests discuss South Australia's global future.