Concluding remarks by the Chairperson

This seventh Trade Policy Review of Australia has enabled us to improve our understanding of recent developments in its trade and trade-related policies, and the challenges it now faces. Our discussion has clearly benefited from the active participation of the Australian delegation, led by Ms. Patricia Holmes, Acting First Assistant Secretary, Office of Trade Negotiations (Department of Foreign Affairs and Trade), as well as from the remarks of our discussant, Ms. Irene Young, Permanent Representative of the Hong Kong Special Administrative Region of China to the WTO, and many interventions by Members. Australia's prompt response to all of the more than 600 advanced written questions has been greatly appreciated by Members.

Members praised Australia's inter-related trade openness, growth, and living standards as well as its sound macroeconomic principles and policies that contributed to its dynamism, economic resilience and performance; over the past 23 years, Australia has experienced uninterrupted real GDP growth. Members congratulated Australia for trade-related reforms undertaken in a number of areas during the review period. Nevertheless, they acknowledged that Australia was still facing challenges relating to the effects of the terms of trade, the relatively appreciated Australian dollar, its ageing population and the continuing over-reliance on the mining sector. Australia was encouraged to conduct the appropriate economic policies to facilitate market-driven adjustment and economic diversification including via its 2014 Industry Innovation and Competitiveness Agenda. Furthermore, certain Members noted that Australia continued to encourage foreign investment consistent with its national interests and certain foreign investment restrictions were maintained in sensitive sectors; they urged Australia to assess the impact of measures that impose an additional regulatory burden on foreign investors.

Members praised Australia's commitment to the development and reinforcement of the rules-based multilateral trading system as well as for its co-ordinating and guiding role in several trade and investment liberalization activities within and outside the WTO (e.g. Information Technology Agreement, Environmental Goods Agreement, Trade in Services Agreement). They also noted Australia's increased involvement in RTAs prioritizing, inter alia, markets in Asia and the Pacific; in this respect, a few Members encouraged the conclusion of FTAs with comprehensive market access outcomes that would further complement and strengthen the multilateral trading system. Several Members praised Australia's transparent trade regime and strong WTO notifications record.

Several Members commended Australia's tariff binding coverage, and its latest unilateral lowering of tariffs on apparel and certain finished textile articles and footwear; however, they encouraged further improvements to its tariff structure. Certain Members expressed appreciation for Australia's minimal documentation requirements, and computerized customs clearance, as well as for its intention to ratify the WTO Trade Facilitation Agreement by mid-2015 and for providing technical assistance to developing and least developed countries in this and other Aid for Trade areas. While noting that Australia was the WTO's 4th largest user of anti-dumping measures, several Members appreciated changes made to the anti-dumping framework and encouraged further improvements in this area, e.g., in procedural transparency and delays.

Some Members welcomed Australia's reforms to develop a biosecurity system that facilitates trade while managing risks from imported products. Concern was expressed over the delayed alignment of its bovine spongiform encephalopathy (BSE) import conditions with internationally recognized standards. Consequently, Australia was inter alia urged to: further align its SPS measures with international standards, guidelines and recommendations (Codex Alimentarius, Organization for Animal Health (OIE)); provide further clarity and transparency on its import risk analysis process; undertake a cost-benefit analysis; and, simplify its biosecurity legislation. Members welcomed Australia's intention to accede to the Revised WTO Government Procurement Agreement, and inquired about the steps forward while offering their close cooperation in this respect. At the same time Australia was encouraged to continue its efforts to open up its government procurement market, inter alia, by improving its regime particularly at sub-federal level. Some Members expressed in interest in learning more about Australia's intellectual property rights regime. A few Members urged Australia to rethink taxes such as the luxury car tax with due consideration to their potential negative impact on trade.

Several Members recognized services as the main pillar of the economy, and progress made in this area; Australia was, inter alia, encouraged to liberalize the maritime cabotage system, and allow foreign vessels registration in the Australian General Register or the International Shipping Register.

Following the precise and detailed responding statement of the Australian authorities to Members' concerns expressed at this meeting, this successfully concludes our seventh Review of Australia. The large number of advance questions and the many interventions indicate the important role Australia plays at the WTO. I would once again like to thank the Australian delegation, the discussant and Members for contributing to what has been a very enlightening two days of discussions.