Global Regulatory » International Trade, Treaties and Agreements

The international prudential regulation of banks and other financial institutions is largely determined by the Group of Twenty Nations (G20), which oversees the work of the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS). Organisations with an international reach should be aware of these ever-changing regulations, especially when contemplating changes within their own operations.

As the Basel III financial regulation reforms roll out in 2013, businesses will need to come up to speed, with new capital standards for financial institutions and new liquidity requirements for deposit-taking institutions.

Our Experts

Andrew Korbel.jpg

Andrew Korbel

Partner Location Sydney Profile
Andrew Percival.jpg

Andrew Percival

Special Counsel Location Sydney Profile
Andrew-Stephenson-Thumbnail.jpg

Andrew Stephenson

Partner Location Melbourne Profile
Ian Dallen.jpg

Ian Dallen

Partner Location Sydney Profile
John Denton.jpg

John W. H. Denton

Partner and Chief Executive Officer Location Melbourne Profile
Odette Gourley.jpg

Odette Gourley

Partner Location Sydney Profile
CATANIAPhilipwebsiteTH.jpg

Philip Catania

Partner Location Melbourne Profile
Stephen Stern.jpg

Stephen Stern

Partner Location Melbourne Profile

Our Experience

Anti-dumping

The Federal Government is working on new legislation to strengthen action in this area. Corrs trade law experts have been involved in the preparation of submissions to the Productivity Commission, Senate Economics Legislation Committee and the Federal Government and have appeared before both the Productivity Commission and the Senate Economics Committee in public hearings to provide evidence.

Corrs’ represents a number of major corporations and foreign governments in anti-dumping investigations in Australia, including, most recently, exporters of galvanised steel, plate steel, aluminium road wheels, formulated glyphosate and power transformers and importers of clear float glass and aluminium extrusions.

More

Anti-money laundering

Advising major financial institutions regarding laws arising from Australia’s membership of the Financial Action Task Force established by the G7 Summit, whose purpose is the combating of money laundering and terrorism financing. Corrs advises global organisations on all aspects of money laundering regulation and trade sanctions.

For example, we advise Western Union, the world’s largest money remittance business, whose network accounts for half of all entities regulated under Australia’s anti-money laundering laws.

More

British American Tobacco

Advising on how Australia’s proposed plain packaging legislation might breach WTO agreements TBT (Technical Barriers to Trade) and TRIPS (Trade Related Aspects of Intellectual Property). Also advising on the potential enforcement of Free Trade Agreements and Bilateral Investment Treaties.

Cross-border technology and privacy

Corrs advises organisations operating internationally seeking to refine their technology and processes through the increasing use of cloud technology, outsourcing and off-shoring. Corrs helps protect clients from issues of security, privacy and control.

Corrs acted for GE Capital in the outsourcing of their Australian data centre to Computer Sciences Corporation (CSC). Corrs also acted confidentially for a major Australian financial institution in the outsourcing and off shoring of its technology related activities.

More

New Zealand alcohol laws

Corrs advised Independent Distillers of Australia in relation to submissions to the New Zealand Government on how proposed changes to NZ alcohol laws could place the country in breach of its Closer Economic Relations treaty with Australia and the World Trade Organisation Technical Barriers to Trade treaty. Corrs also made oral submissions to a New Zealand Senate Committee on these issues.

Protecting French interests under the Australia EC Wine Treaty

Corrs advised French statutory authorities, the French National Institute of Appellations of Origin (also known as the National Institute of Origin and Quality) and the CIVC, the Inter-professional Committee for Champagne Wines on how to gain greater protection from the Australia EC Wine Treaty and its implementation.

This follows historic action from Corrs in gaining Australian protection of the term 'Methode Champenoise'.

More

Steeling Chinese exporters against customs investigation

When Australian Customs and Border Protection Service initiated dumping and subsidy investigations into exports of galvanised steel and plate steel from the People’s Republic of China and Taiwan, Corrs stepped in.

Corrs worked together with domestic Chinese and Taiwanese law firms to assist exporters of galvanised steel and plate steel from China and in Taiwan to respond to the investigation, which was initiated by Customs following an application by BlueScope Steel Limited, the sole producer of galvanised steel and plate steel in Australia.

More

Power transformer investigation

On 29 July 2013 the Australian Anti-Dumping Commission initiated an anti-dumping investigation into exports of liquid dielectic power transformers with power ratings equal to or greater than 10 mega volt amperes and a voltage rating of less than 500 kilo volts from the People’s Republic of China, the Republic of Indonesia, Taiwan, Thailand and the Socialist Republic of Vietnam.

Corrs is assisting, in the investigation, a range of exporters of those types of transformers from China, Taiwan and Indonesia, as well as an end-user in Australia.

More

Tai Shan Kam Kiu Aluminium Extrusion Co Ltd

After the Attorney-General imposed anti-dumping and countervailing measures on aluminium extrusions exported from the People’s Republic of China, Corrs represented the Kam Kiu group of companies in Federal Court of Australia proceedings challenging various aspects of the investigation and decision-making process, including a decision to vary the initial measures that had been imposed on our client’s exports.

Our challenge to that decision – made on the basis that it was out of step with WTO appellate caselaw - was successful, with the Federal Court determining that the measures should be treated as if they had never been varied.

More

Round-up export investigation

Corrs has been advising the China Chamber of Commerce of Metals, Minerals & Chemicals in relation to an application by Nufarm and Accensi for the Australian Customs and Border Protection Service to investigate the alleged dumping of formulated glyphosate imported into Australia from China.

Formulated glyphosate is a weed killer and is marketed in Australia under a variety of names, including Round Up. The China Chamber of Commerce represents, among others, Chinese exporters of glyphosate.

Following an initial investigation by Customs, a review by the Trade Measures Review Officer, and a re-investigation by Customs, the investigation was ultimately terminated, and no anti-dumping measures imposed on exports from our client’s members.

More

Our Thinking

Trade with Indonesia: Navigating the noodle bowl

Trade between Australia and Indonesia offers much promise but finding your way through the plethora of trade agreements is not simple.

More

The new Korea-Australia Free Trade Agreement is an open door for Korean investors, but not in agriculture

KAFTA is a clear signal Australia is open for business.

More

Navigating Australian admiralty law: The ability to claim against and arrest a ship in Australian waters

Australia’s admiralty law offers aggrieved parties a unique and powerful remedy to recover their loss and damage.

More

Will an EU-US free trade agreement be the last straw for Australian manufacturing?

Australia will be a clear loser if the EU-US Transatlantic Trade and Investment Partnership becomes a reality.

More

Competition provisions in international trade agreements - The cart before the horse?

Trade negotiations with developing nations must focus on realistic goals.

More

Anti-dumping reforms are barking up the wrong tree

Dumping is not illegal and tougher anti-dumping measures will not save Australia’s manufacturers.

More

Australia’s new Anti-Dumping Commission - Shuffling deckchairs on the Titanic?

Will Australia’s new anti-dumping policeman save Australian manufacturing?

More

Ready for take-off: Creating a more creditor-friendly insolvency regime for Australian aviation finance

Australia has signed an international agreement that should lead to cheaper and easier financing of aircraft…but there’s a catch.

More

Australia’s irrational approach to trade with China

Is Australia jeopardising its goal of free trade with China for the sake of short term protectionism?

More

What future for Australian manufacturing and why should you care?

Is Australian manufacturing really on a road of no return or is it merely going through a painful reshaping and why does it matter?

More

Anti-Dumping - Proposed measures could expose Australia to claims of increased protectionism

The latest set of proposed amendments to Australia’s anti-dumping system potentially go too far and risk Australia contravening its WTO commitments.

More

Foreign direct investment in India

In efforts to promote the competitiveness of India as an investment destination, and to attract increased foreign direct investment, the Government of India has recently eased the country’s FDI procedures.

More

Anti-Dumping - Brumby inquiry into a stand-alone agency

Does the establishment of an inquiry into the feasibility of a stand-alone anti-dumping agency suggest Customs are not up to the task of conducting dumping and subsidy investigations?

More

High end products are the solution to Australia’s manufacturing woes, not more anti-dumping reforms

The Federal Government’s new legislation to strengthen the anti-dumping system, and Manufacturing Australia’s calls for reform, are misguided.

More

If Asia is the new Britain, we need a new passport

Australia’s proposed Asia Region Funds Management Passport seeks to ease current regulatory differences relating to the sale of financial products between Australia and Asia.

More

With trade barriers reappearing, G20 leaders must get serious

It's a critical time for international trade and investment. While the global economy - buffeted by concerns over sovereign debt in Europe - needs the benefit of trade liberalisation to boost business confidence, the World Trade Organisation negotiat

More

Australia’s anti-dumping reforms - An improvement or a lost opportunity?

Heralded as “the most important improvements to Australia’s anti-dumping regime in more than a decade” - but will these changes make the system more effective?

More

Our Experience

Anti-dumping

The Federal Government is working on new legislation to strengthen action in this area. Corrs trade law experts have been involved in the preparation of submissions to the Productivity Commission, Senate Economics Legislation Committee and the Federal Government and have appeared before both the Productivity Commission and the Senate Economics Committee in public hearings to provide evidence.

Corrs’ represents a number of major corporations and foreign governments in anti-dumping investigations in Australia, including, most recently, exporters of galvanised steel, plate steel, aluminium road wheels, formulated glyphosate and power transformers and importers of clear float glass and aluminium extrusions.

Anti-money laundering

Advising major financial institutions regarding laws arising from Australia’s membership of the Financial Action Task Force established by the G7 Summit, whose purpose is the combating of money laundering and terrorism financing. Corrs advises global organisations on all aspects of money laundering regulation and trade sanctions.

For example, we advise Western Union, the world’s largest money remittance business, whose network accounts for half of all entities regulated under Australia’s anti-money laundering laws.

British American Tobacco

Advising on how Australia’s proposed plain packaging legislation might breach WTO agreements TBT (Technical Barriers to Trade) and TRIPS (Trade Related Aspects of Intellectual Property). Also advising on the potential enforcement of Free Trade Agreements and Bilateral Investment Treaties.

Cross-border technology and privacy

Corrs advises organisations operating internationally seeking to refine their technology and processes through the increasing use of cloud technology, outsourcing and off-shoring. Corrs helps protect clients from issues of security, privacy and control.

Corrs acted for GE Capital in the outsourcing of their Australian data centre to Computer Sciences Corporation (CSC). Corrs also acted confidentially for a major Australian financial institution in the outsourcing and off shoring of its technology related activities.

New Zealand alcohol laws

Corrs advised Independent Distillers of Australia in relation to submissions to the New Zealand Government on how proposed changes to NZ alcohol laws could place the country in breach of its Closer Economic Relations treaty with Australia and the World Trade Organisation Technical Barriers to Trade treaty. Corrs also made oral submissions to a New Zealand Senate Committee on these issues.

Protecting French interests under the Australia EC Wine Treaty

Corrs advised French statutory authorities, the French National Institute of Appellations of Origin (also known as the National Institute of Origin and Quality) and the CIVC, the Inter-professional Committee for Champagne Wines on how to gain greater protection from the Australia EC Wine Treaty and its implementation.

This follows historic action from Corrs in gaining Australian protection of the term 'Methode Champenoise'.

Steeling Chinese exporters against customs investigation

When Australian Customs and Border Protection Service initiated dumping and subsidy investigations into exports of galvanised steel and plate steel from the People’s Republic of China and Taiwan, Corrs stepped in.

Corrs worked together with domestic Chinese and Taiwanese law firms to assist exporters of galvanised steel and plate steel from China and in Taiwan to respond to the investigation, which was initiated by Customs following an application by BlueScope Steel Limited, the sole producer of galvanised steel and plate steel in Australia.

Power transformer investigation

On 29 July 2013 the Australian Anti-Dumping Commission initiated an anti-dumping investigation into exports of liquid dielectic power transformers with power ratings equal to or greater than 10 mega volt amperes and a voltage rating of less than 500 kilo volts from the People’s Republic of China, the Republic of Indonesia, Taiwan, Thailand and the Socialist Republic of Vietnam.

Corrs is assisting, in the investigation, a range of exporters of those types of transformers from China, Taiwan and Indonesia, as well as an end-user in Australia.

Tai Shan Kam Kiu Aluminium Extrusion Co Ltd

After the Attorney-General imposed anti-dumping and countervailing measures on aluminium extrusions exported from the People’s Republic of China, Corrs represented the Kam Kiu group of companies in Federal Court of Australia proceedings challenging various aspects of the investigation and decision-making process, including a decision to vary the initial measures that had been imposed on our client’s exports.

Our challenge to that decision – made on the basis that it was out of step with WTO appellate caselaw - was successful, with the Federal Court determining that the measures should be treated as if they had never been varied.

Round-up export investigation

Corrs has been advising the China Chamber of Commerce of Metals, Minerals & Chemicals in relation to an application by Nufarm and Accensi for the Australian Customs and Border Protection Service to investigate the alleged dumping of formulated glyphosate imported into Australia from China.

Formulated glyphosate is a weed killer and is marketed in Australia under a variety of names, including Round Up. The China Chamber of Commerce represents, among others, Chinese exporters of glyphosate.

Following an initial investigation by Customs, a review by the Trade Measures Review Officer, and a re-investigation by Customs, the investigation was ultimately terminated, and no anti-dumping measures imposed on exports from our client’s members.

Our Thinking

Foreign direct investment in India

In efforts to promote the competitiveness of India as an investment destination, and to attract increased foreign direct investment, the Government of India has recently eased the country’s FDI procedures.

With trade barriers reappearing, G20 leaders must get serious

It's a critical time for international trade and investment. While the global economy - buffeted by concerns over sovereign debt in Europe - needs the benefit of trade liberalisation to boost business confidence, the World Trade Organisation negotiat

Australia’s anti-dumping reforms - An improvement or a lost opportunity?

Heralded as “the most important improvements to Australia’s anti-dumping regime in more than a decade” - but will these changes make the system more effective?

If Asia is the new Britain, we need a new passport

Australia’s proposed Asia Region Funds Management Passport seeks to ease current regulatory differences relating to the sale of financial products between Australia and Asia.

High end products are the solution to Australia’s manufacturing woes, not more anti-dumping reforms

The Federal Government’s new legislation to strengthen the anti-dumping system, and Manufacturing Australia’s calls for reform, are misguided.

Anti-Dumping - Brumby inquiry into a stand-alone agency

Does the establishment of an inquiry into the feasibility of a stand-alone anti-dumping agency suggest Customs are not up to the task of conducting dumping and subsidy investigations?

Anti-Dumping - Proposed measures could expose Australia to claims of increased protectionism

The latest set of proposed amendments to Australia’s anti-dumping system potentially go too far and risk Australia contravening its WTO commitments.

What future for Australian manufacturing and why should you care?

Is Australian manufacturing really on a road of no return or is it merely going through a painful reshaping and why does it matter?

Australia’s irrational approach to trade with China

Is Australia jeopardising its goal of free trade with China for the sake of short term protectionism?

Ready for take-off: Creating a more creditor-friendly insolvency regime for Australian aviation finance

Australia has signed an international agreement that should lead to cheaper and easier financing of aircraft…but there’s a catch.

Australia’s new Anti-Dumping Commission - Shuffling deckchairs on the Titanic?

Will Australia’s new anti-dumping policeman save Australian manufacturing?

Anti-dumping reforms are barking up the wrong tree

Dumping is not illegal and tougher anti-dumping measures will not save Australia’s manufacturers.

Competition provisions in international trade agreements - The cart before the horse?

Trade negotiations with developing nations must focus on realistic goals.

Will an EU-US free trade agreement be the last straw for Australian manufacturing?

Australia will be a clear loser if the EU-US Transatlantic Trade and Investment Partnership becomes a reality.

Navigating Australian admiralty law: The ability to claim against and arrest a ship in Australian waters

Australia’s admiralty law offers aggrieved parties a unique and powerful remedy to recover their loss and damage.

The new Korea-Australia Free Trade Agreement is an open door for Korean investors, but not in agriculture

KAFTA is a clear signal Australia is open for business.

Trade with Indonesia: Navigating the noodle bowl

Trade between Australia and Indonesia offers much promise but finding your way through the plethora of trade agreements is not simple.

Our Experts

Andrew Korbel.jpg

Andrew Korbel

Partner Sydney + 61 2 9210 6537
Andrew Percival.jpg

Andrew Percival

Special Counsel Sydney +61 2 9210 6228
Andrew-Stephenson-Thumbnail.jpg

Andrew Stephenson

Partner Melbourne +61 3 9672 3358
Ian Dallen.jpg

Ian Dallen

Partner Sydney +61 2 9210 6243
John Denton.jpg

John W. H. Denton

Partner and Chief Executive Officer Melbourne +61 3 9672 3158
Odette Gourley.jpg

Odette Gourley

Partner Sydney +61 2 9210 6066
CATANIAPhilipwebsiteTH.jpg

Philip Catania

Partner Melbourne +61 3 9672 3333
Stephen Stern.jpg

Stephen Stern

Partner Melbourne +61 3 9672 3148