Australia's trade performance sinks

AUSTRALIA'S standing as a global trade competitor has tumbled with exporters dogged by regulatory barriers, the Australian Industry Group says.

The World Economic Forum's global "enabling trade" index released on Wednesday showed Australia dropping six places to 23rd in 2014 from 17th in 2012, and having been ranked 14th in 2009.

Singapore topped the table, while neighbouring New Zealand was fourth.

Ai Group chief executive Innes Willox said the survey results yet again highlight Australia's poor performance in the global economy relative to its peers and competitors.

"Australian exporters continue to face many hurdles, including access to foreign markets, transport costs and regulatory barriers," Mr Willox said in a statement.

"Some of these barriers are due to the old 'tyranny of distance', but others are due to our own regulatory and procedural arrangements for outbound and inbound trade."

On market access that measures the extent and complexity of a country's tariff regime, Australia now ranks 74th, having been 44th in 2008.

On the quality, transparency and efficiency of border administration Australia stands 22nd having been 11th six years earlier, while on infrastructure it is now 20th, down from a peak of 14th in 2009.

Similarly, on its operating environment it is 19th versus 14th in 2009.

"Australian trade policies, regulations and procedures require attention in a similar manner to the many other areas of regulatory burden that are currently under scrutiny," Mr Willox said.

The results highlight the importance of free trade and multi-lateral agreements, including those with China and Japan, Australia's two largest trading partners, as well as the Trans-Pacific Partnership

He said government is putting a welcome focus on expediting these agreements and strengthening Australia's trade performance.

He said Australia hosting the G20 Leaders Meeting in November will provide another opportunity to address trade barriers and encourage expanded global trade.

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Inflation slowing in developed countries

INFLATION slowed in major developed countries in February amid a steep drop in energy prices, a report shows.

The Organization for Economic Cooperation and Development said on Tuesday consumer price inflation in its 34 member countries slowed to 1.4 per cent in February from 1.7 per cent in January.

Low inflation has become a key concern for many developed countries. Consumers and businesses delaying purchases in the hope of cheaper deals later can hurt growth.

An outright drop in prices, called deflation, can be very hard to reverse. Japan was stuck in deflation for about two decades, during which time its economy barely grew.

The US inflation rate was 1.1 per cent in February, while the European Union's was just 0.8 per cent, well below the 2 per cent many economists deem a suitable level.

The OECD, a think-tank for the world's most developed countries, said however excluding volatile food and energy prices, core inflation for its 34 members was stable for a fourth month running at 1.6 per cent.

Inflation in G-20 countries, which includes major developing countries such as Indonesia, India and Brazil, slowed to 2.3 per cent in February from 2.6 per cent in January, the OECD said.

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Pyne accused of keeping cuts in the dark

LABOR is asking what the Abbott government has to hide after it apparently failed to consult with stakeholders about any proposed changes to the Australian Education Act.

The federal opposition says Education Minister Christopher Pyne wrote to stakeholders pledging to consult with them on any changes to the legislation in March.

But Labor education spokeswomen Kate Ellis said the deadline had come and gone, suggesting cuts to "vital" funding could be on the agenda.

"Despite his promises, major education stakeholders haven't seen a draft of the act," Ms Ellis said in a statement on Wednesday.

She said the government's failure to be transparent in this case raised many questions, including whether they would be including the fifth year of Gonski funding in the upcoming budget.

Mr Pyne's office has been contacted for comment.

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Airline accident death toll fell in 2013

AIRLINE crashes killed 210 people last year, half as many as the five-year average, the International Air Transport Association (IATA) says.

The Geneva-based industry group said on Tuesday that of the 81 airline accidents in 2013, 16 resulted in fatalities.

The Asia Pacific area was among the regions where airline safety decreased last year, as the rate of 0.7 serious accidents per million flights was worse than the 2009-2013 average of 0.64, according to IATA.

Accidents involving Asian airlines last year included the Asiana Airlines crash in San Franscisco, which left three dead and 181 injured, as well as the Lao Airline crash into the Mekong river, which killed all 49 on board.

The former Soviet states were the worst-performing region last year, with 2.09 serious accidents per one million flights.

Safety improved significantly in Africa last year but the continent's airlines are only marginally safer than the ones in former Soviet countries, the statistics showed.

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