Aus-Can Trade Talk Newsletter Archive
CPPIB announces Sydney office
The Canadian Pension Plan Investment Board (CPPIB) has announced it will open an office in Sydney in fiscal 2017 to formalise its existing operations in Australia. When CPPIB sets up office, four of Canada’s top 10 pension funds with combined net assets of over C$625 billion (as at 30 December 2015), will have established offices in Australia.
Trans-Pacific Partnership Agreement
The Parliamentary Joint Standing Committee on Treaties has commenced its TPP inquiry and has announced a schedule of hearings for the inquiry. A separate Senate Foreign Affairs, Defence and Trade References Committee TPP inquiry has also commenced.
CIBC and National Australia Bank form strategic alliance
The Canadian Imperial Bank of Commerce (CIBC) and National Australia Bank (NAB) have formed a strategic innovation alliance. The alliance will enable the sharing of information, innovation strategies and open up networks with start-up partners, with the potential for the group to co-develop products and services.
Did you know?
Australia is the third most popular destination for international students (OECD Directorate for Education and Skills).
Suguna 27th Annual Conference
The Sydney University Graduates Union North America (SUGUNA) will hold their 27th annual conference in Toronto in August 2017. The program will include presentations from University of Sydney graduates and other Australians prominent in the arts, business and politics.
OMERS Consortium acquires Australia’s busiest cargo port
OMERS and the Lonsdale Consortium have signed a lease for the Port of Melbourne’s commercial operations for a term of 50 years. As part of its successful bid, the Lonsdale Consortium will invest capital to expand the existing capacity of the port to service the freight needs
Ontario Teachers’ purchase Nextgen Networks
CIMIC Group of Sydney has announced that it had reached an agreement to divest all of its investment in Nextgen Group to Ontario Teachers' Pension Plan (Ontario Teachers'). The Ontario Teachers’ will hold a100 per cent stake in the Australian company.
Canada to join Asian Infrastructure Investment Bank
As part of its commitment to engage with global partners on development projects in Asia, Canada has announced its decision to apply for membership in the AIIB. Canada will join Australia and 56 other countries as a member of the multilateral institution.
Did you know?
Australia was a founding member of the AIIB. Australia has committed US$738 million paid-in capital to the AIIB over five years and is the sixth largest shareholder.
Australian Global Alumni Network Launched
The Australian Government, working in partnership with Australian universities, has created a virtual global network for international scholars and fellows who have studied in Australia. The new strategy creates online communities allowing Australia’s global alumni to easily engage with each other and build local, regional and global professional and social links.
New route = Stronger connections
Honorary Consul Kevin Lamb was on hand with British Columbia Minister of International Trade Teresa Wat for the inauguration of Air Canada’s new direct, year-round flights from Vancouver to Brisbane. The route will further improve personal and business connectivity between Canada and Australia.
Savour Australia connects Canadians with fine Australian wines
Wine Australia accompanied a select group of Australian wineries for a tour of North America in 2016, including stops in Ottawa, Toronto, Vancouver and Calgary. Many Canadian wine experts and enthusiasts were able to discover and experience contemporary Australian wine at tour events.
Missed out? Wine Australia is planning to take the roadshow across Canada again in May 2017.
Did you know?
Canada is Australia’s fourth most valuable international wine market. Australian wine exports to Canada were valued at A$193 million in 2015
Investor confidence in Australia grows
Australia has moved up three spots to seventh out of 25 economies in a global survey of investor confidence. Compared to one year ago, 32 per cent of world’s business executives - the fifth highest in the study - are more optimistic on Australia’s economic outlook over the next three years. Australia and China are the only economies in the Asian region to be consistently ranked in the top ten in the world since 2010.
Did you know?
In its 2015 Fiscal Monitor, the International Monetary Fund (IMF) estimated the Australian Government’s net debt would be 18.3 per cent of GDP in 2016, well below the 71.9 per cent forecast for advanced economies as a group.
Australia expected to lead major advanced economies in economic growth
Australia’s real GDP grew by 2.5 per cent in the calendar year 2015, according to the latest figures released by the Australian Bureau of Statistics. Australia is now approaching 25 consecutive year of economic growth. According to IMF forecasts released in April 2016, Australia is expected to realise average annual real GDP growth of 2.8 per cent between 2016 and 2021 – the highest forecast among major advanced economies.
Kal Tire acquires Klinge Tire Services in Australia
Kal Tire, Canada’s largest independent tire dealer, has announced that its mining tire group has announced the acquisition tire services business of Klinge & Co. in Australia. The British Columbia company has been operating in Australia for six years.
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New bilateral air services agreements means more flight options
Canada and Australia have concluded a new bilateral air service agreement providing Canadian business and leisure travellers with greater access to Australia. Weekly flight capacities will triple by December 2016. Carriers from both countries have also gained immediate access to an additional 3,000 weekly seats between Canada and Sydney, Melbourne, Brisbane and Perth.
Trade Ministers sign historic Trans-Pacific Trade Agreement
Trade Ministers from Australia, Canada and the ten other Trans-Pacific Partnership Agreement (TPP) member countries formally signed the TPP agreement at ceremony in New Zealand on 4 February 2016. The TPP will see the elimination of 98 per cent of tariffs among the 12 member countries.
The text of the TPP and an accompanying National Interest Analysis were tabled in the Australian Parliament on 9 February 2016. The TPP is now being reviewed by the Joint Standing Committee on Treaties as part of the process toward ratification.
Australia’s Global Innovation Strategy
To ensure Australia remains internationally competitive, the Australian government is investing AUS$36 million over five years in a Global Innovation Strategy to improve the country’s international innovation and science partnerships.
A major element of the strategy will be the creation of five “landing pads” in global innovation hotspots, with the first having been launched in San Francisco on 18 February. The landing pads will support Australian market-ready start-ups through access to entrepreneurial talent, mentors and investors.
Australia to host world’s largest LNG conference
Perth will host LNG18, the world’s largest LNG conference, from 11 to 15 April 2016. With over 5,000 participants and 250 exhibitors from 60 countries, the event will offer participants numerous opportunities to interact with industry leaders on the evolving technological, commercial, social and environmental challenges affecting the LNG industry. The four-day program will include plenary sessions, workshops, an exhibition and technical tours of world-leading LNG facilities.
Australia – The world’s most creative economy
A study by the Martin Prosperity Institute (housed at the University of Toronto’s Rotman School of Management) found Australia to be the most creative economy in the world. The study ranked 139 nations on measures of technology, talent and tolerance, which they noted are closely linked to economic and social development.
Australia-China Free Trade Agreement enters into force
The China-Australia Free Trade Agreement (ChAFTA) entered into force on 20 December 2015. More than 86 per cent of Australia’s goods exports to China will now enter duty free and this will rise to 96 per cent by the time ChAFTA is fully implemented in January 2029. ChAFTA also supports increased service trade and investment between the two countries.
Australia concludes nuclear cooperation agreements with India and UAE
Australia has finalised nuclear cooperation agreements with India and the United Arab Emirates, expanding the country’s global uranium export opportunities. The agreements set out strict conditions for the peaceful use, safeguarding and security of Australian uranium. Australia now has 24 nuclear cooperation agreements in force, allowing for export to over 40 countries.
Calling all Australian Alumni
Did you study in Australia or know any Australian alumni in Canada? The High Commission is interested in hearing from graduates of Australian tertiary institutions living in Canada. We are compiling a register of Australian alumni across Canada who are interested in updates on alumni events supported by the High Commission.