AUSTRALIA’s national resource industry employer group, the Australian Mines and Metals Association (AMMA), is calling on Bill Shorten and the Labor Party to rise above the superficial and dangerous misinformation campaign being waged against the China-Australia free trade agreement (FTA).

“Notwithstanding what he may owe unions after the weekend’s stage-managed ALP National Conference, it’s time for Mr Shorten and the ALP to rise above the politics of opposition and support this historic trade deal with our largest trading partner,” says AMMA CEO Steve Knott.

“This is an historic deal that will deliver greater economic prosperity and job creation for our country.

“Opposition to the FTA is coming dangerously close to xenophobia and can only threaten Australia’s reputation as a mature, welcoming and stable place to do business.”

Mr Knott says it is especially disappointing to see Bill Shorten and the ALP support another round of misleading union rhetoric on the role of skilled migrants in this country.

“Despite the blatant mistruths being peddled by the union movement, this agreement makes clear that skilled overseas labour will only be used to supplement shortages in the Australian labour market, and represents no threat to local jobs, conditions and wages,” he says.

“It requires Chinese companies to be registered in Australia and therefore to comply with all Australian employment laws and market rates and conditions.

“The inference that these international skilled employees could be subject to inferior occupational health and safe standards is also untrue, mischievous and unhelpful.”

With resources investment under consideration in Australia falling by more than $80 billion in the past 12 months, Mr Knott says the economy ‘desperately needs the kick along that greater trade with China will deliver’.

He notes Trade Minister Andrew Robb is quoted in today’s press estimating that a delay to the passage of the deal could cost the national economy $300 million in the next year alone.

“Australia is operating in a highly competitive, global marketplace. It’s time to stop acting like a remote island where we can all shove our heads in the sand and indulge ‘fortress Australia’ thinking,” Mr Knott continues.

“We need our politicians to rise above the hysteria and opportunism being sown by some of our unions.

“Any serious alternative Prime Minister would push back on shallow, opportunistic sectional views that threaten our ability to compete globally and secure new investment in Australia.”

Last week the Department of Foreign Affairs and Trade published a fact sheet about the Free Trade Agreement, clarifying key aspects of the deal and debunking misconceptions.

www.amma.org.au

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VICTORIA'S obtainment of the rights to host the Australian leg of the International Champions Cup for another three years is further validation of Melbourne’s standing as a global sporting leader, said the Victoria Events Industry Council (VEIC).

"It is positive that the outstanding work of Victoria’s tourism and events industry has been rewarded with the significant extension of the rights to host this prized and internationally sought-after competition," said VEIC Chief Executive Dianne Smith.

The extension was announced today by the Hon. John Eren MP, Minister for Sport, Tourism and Major Events, and is worth more than $150 million to Victoria’s economy.

The announcement follows three successful and highly-attended matches between some of the world's most decorated and high-profile clubs in Real Madrid, Manchester City and AS Roma.

"VEIC will continue to work with government and operators throughout the state to make sure the benefits of these significant opportunities for tourism businesses are capitalised on," said Ms Smith.

The Victoria Events Industry Council (VEIC) is the peak body for Victoria’s events industry, providing one united industry voice.

Major Events contribute $1.8 billion to Victoria’s economy every year, creating jobs and underpinning Melbourne’s status as one of the global sporting capitals and the World’s Most Liveable City.

vtic.com.au

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THE Senate Economics Reference Committee will today hear how innovation holds the key to the future of manufacturing and a great number of jobs, in a presentation by medical device manufacturer Cook Medical Australia.

The Committee is in Brisbane to hear verbal submissions for the Inquiry into Australia’s Innovation System and Cook Medical will be one of two manufacturers to share their insights. The submission will be made by Mark Muller, Director of Finance – Cook Medical Asia Pacific.

“It’s our strong view that innovation and manufacturing are inextricably linked. However, the precarious state of Australia’s manufacturing industry, struggling with comparatively high taxes, high labour and operating costs, is of particular concern for the future of Australia’s innovation system." explains Mr Muller.

“We will share these concerns with the Committee and implore them to take action. To maximise Australia’s capability to innovate and to become a knowledge-based economy, there is a need for structural change within policy frameworks to attract business and commercialisation of our innovations back to Australia. Without this, the intellectual property, manufacturing and all the associated jobs will leave our shores. It’s the Australian future for companies like Cook Medical.

“The Government must do something to help the retention of domestic manufacturing and industry. Our recommendation is to consider the implementation of a ‘patent box’ style tax incentive for Australia, specifically a model that would provide a reduction in the tax payable on profits derived from the commercialisation of qualifying IP in Australia (either via licensing or manufacturing and sale of products incorporating qualifying IP),” said Mr Muller.

Under the model, termed the Australian Innovation & Manufacturing (AIM) Incentive, qualifying IP profit would be taxed at the lower rate with the standard corporate tax rate to be applied to other income. This would ensure Australia benefits from investment in any R&D by encouraging companies to locate all activity associated with the development, manufacture and exploitation of that IP within Australia, which would support the full spectrum of industry sectors.

Adding to the IP retention issue is that, R&D Tax Incentives such as the one Australia implemented are now recognised globally, with 30 countries, including the top 10 global manufacturing countries also offering similar frameworks.

Cook Medical Australia was established in 1979 and has grown to a headcount of over 500 people at their headquarters in Eight Mile Plains where its headquarters are based.

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WITH China as Australia’s largest trading partner, a round of public hearings to examine the costs and benefits of the proposed China-Australia Free Trade Agreement (ChAFTA) will begin next week.

The Treaties Committee will commence hearings on Monday 27 July in Brisbane. The second hearing will take place in Sydney on Friday 31 July to be followed by hearings in Canberra, Melbourne, Perth and Tasmania.   

China provides Australia’s largest agriculture and fisheries market and biggest export market for resources, energy and manufacturing. Chinese investment in Australia has grown strongly in recent years and the country is Australia’s largest services market as well.

The Agreement is expected to eliminate or significantly reduce tariffs on a wide range of Australian goods exports including beef, dairy, sheep meat, wine, horticulture and energy and resource products. It also delivers China’s best services commitments to date, including the provision of new or significantly improved market access for financial, legal, education and health and aged care services.

Committee Chair, Mr Wyatt Roy MP, said that Australia’s free trade agreements are intended to reduce barriers to trade for Australian producers and exporters.

“However, the committee understands that there are some serious questions regarding the impact of these agreements on the broader economy and it is interested in hearing from a range of witnesses on the possible positive and negative aspects of implementing this agreement,” he said.   

Public Hearing: Monday 27 July 2015,
Level 6 Mediation Room 2, Commonwealth Law Courts 119 North Quay, Brisbane

12.30pm Queensland Seafood Industry Association
Queensland Seafood Marketers Association Inc
1.10pm Packer Leather
1.50pm HopgoodGanim
2.30pm ThomsonAdsett
3.10pm Close

Public Hearing: Friday 31 July 2015,
Macquarie Room, Parliament House, Macquarie Street, Sydney

9.30am Council of Private Higher Education
10.15am Australian Fair Trade Investment Network
11.00am Financial Services Council
11.45am Australian Red Meat Industry
12.30pm Lunch
1.30pm Private individual
2.15pm Blackmores Ltd
3.00pm Communications Electrical Plumbing Union
3.45pm Close

The hearing will be broadcast through: www.aph.gov.au/live
Hearing programs, copies of the treaties and submissions received can be found at: http://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Treaties  Alternatively, email This email address is being protected from spambots. You need JavaScript enabled to view it. or phone (02) 6277 4002.