Fed: Vaile pours cold water on FTA with Jap, talks up US/Sing
By Shane Wright and Krista Hughes
CANBERRA, April 10 AAP - Trade Minister Mark Vaile today poured cold water on a freetrade agreement (FTA) with Japan while talking up deals with Singapore and the UnitedStates.
Mr Vaile said there were also growing opportunities in China, in part due to Australia'sefforts to help China join the World Trade Organisation.
He also refused to reveal what the government may horse-trade in negotiations withthe US over a proposed FTA between the two countries.
The annual report card on Australia's trade performance, released today, showed exportsgrew eight per cent in 2001 to $154 billion.
It warned after almost 30 per cent growth in exports in the past two years, the fallin world growth would hit Australian sales overseas.
The report said key opportunities for Australian exporters included IT and communicationsequipment and food and beverages to the US; financial and social welfare services andOlympics expertise to China; automotive parts to Korea the EU and biotechnology to NewZealand.
Mr Vaile said an FTA with the US was still the government's most important trade goalfor the coming year.
Talks have begun on how negotiations for an FTA may proceed, with the focus on someof the major stumbling blocks.
The US has already earmarked some of Australia's restrictions on quarantine, plus parallelimporting laws and the Foreign Investment Review Board, as areas it wants to see changed.
Mr Vaile likened the build-up to the negotiations to the card game 500, saying he wouldnot reveal what might be given up when talks with his US counterpart Bob Zoellick gotunderway.
"You don't dare drop any trumps out with the discards when you put the kitty back out,you keep them all in your hand until I line up for the very first day of negotiationswith Bob Zoellick," he said.
"You start on these things with no exclusions and you move forward from there, andyou always keep your cards, including your trumps."
Mr Vaile said he expected the proposed FTA between Australia and Singapore to be signedoff by the end of the year.
But he said the chances of getting an FTA with Japan was much more difficult, addingthere would be major stumbling blocks to such a deal.
"If you want to say a trade agreement (with Japan) then yes, if you want to say anFTA that is a bit more difficult," he said.
"We need to remain not extremely conservative but reasonably conservative in our ambitions."
Opposition trade spokesman Stephen Martin said the report showed growth in smart jobshad stagnated under the government, while growth in Asia was below that of other partsof the world.
Australian Industry Group chief executive Bob Herbert said a comprehensive plan, acrossall levels of government, was needed to meet the government's target of doubling the numberof exporters.
AAP sw/daw/mg/sb
KEYWORD: TRADE NIGHTLEAD
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