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Australia's Regional & Global Links: Trade

HG51 - Looking To The Future
by

Lisa Tran

on 12 April 2013

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Transcript of Australia's Regional & Global Links: Trade

Australia is a large continent located in the Asia Pacific region within the Southern Hemisphere. Its distant location in the world keeps Australia remote from other countries. Despite its geographical isolation, Australia is still capable of connecting with its neighbours as well as other countries through building up links. One of the significant regional and global links that will be explored in this presentation is trade. In geographical terms, trade is the commercial process of buying, selling or exchanging merchandise between two or more countries. Through this link Australia is able to receive as well as deliver commodities to and from other countries, allowing Australia to be exposed to goods and services that are available in the county. AUSTRALIA'S REGIONAL
& GLOBAL LINKS:
TRADE Australia is involved in trade with many of the countries in the world but the main countries that Australia trades with are Japan, the United States, China, New Zealand, South Korea and Britain since they are high exporters and provide efficient goods and services. Australia has a huge role in relation to trade with its asian neighbours as it is a high exporter of goods, services and capital in the region. In Australia there are various levels of government which play different roles or perform certain actions in relation to trade.
Australian governments take part in this link through laws and regulations such as limits on the amounts of exports and imports, quarantine restrictions, and taxes, fees, charges that are applied to local and international business exchange.The Gillard Government aims to keep Australia successful and sustainable, as well as providing opportunities for the communities by contributing to international trade in order to increase national prosperity and high-waged jobs. It raises productivity in domestic reform with an agreement of improved access to overseas markets for exporters. It also improves access to overseas markets in order to provide an opportunity for Australia to compete with other countries and increase its market. The Gillard Government also seeks to reduce foreign tariff barriers and quantitative restrictions on Australian exports that come from primary merchandise and mass-produced products. Non-government organisations are also relevant in relation to trade such as APHEDA which is an overseas humanitarian aid agency that fights for social justice by focusing on human rights and sustainable development. Some Australian non-government organisations also assist in helping developing countries by providing financial support. Free Trade Agreements (FTAs) is an example of an agreement in which Australia took part in that related to trade. Its purpose is to support global trade liberalisation under the agreement of the World Trade Organisation rules. The FTAs allows different parties to bind commitments in order to open up approach to each others' markets for goods, services and investments. The FTAs also assist Australian exporters so that they are able to have access to new markets and expand their trade in current markets. Australia currently has six FTAs in which they are with New Zealand, Singapore, Thailand, US, Chile and the South East Asian nations. Some of them are TAFTA, AUSFTA and SAFTA. Thailand The Thailand-Australia Free Trade Agreement (TAFTA) ensures greater access to the market in Thailand for Australian products, as well as improving the management and investment environment, promoting increased business movement. Under this agreement, Thailand had accepted to guarantee non-prejudicial treatment of Australian investment in Thailand. USA The Australia-United States Free Trade Agreement (AUSFTA) enables Australia to have a greater access to the markets in USA , which currently has the largest and richest consumer market in the world. This agreement helps to improve the prospects for services, trade and investment in Australia. Singapore The Singapore-Australia Free Trade Agreement (SAFTA) offers a range of opportunities in goods and services for Australian exporters, strengthening trade and investment links and providing cheaper inputs for Australian products. SAFTA also provides a better open business environment in different areas such as e-commerce. - Structural umemployment may occur due to removal of trade barriers
- Mass production leads to pollution
- New industries may find it difficult to succeed in a competitive environment The Advantages & Disadvantages
of Trade ADVANTAGES DISADVANTAGES - Leads to an increase with international ties
- Improves efficency in production
- Economic growth
- Benefits to customers By Lisa Tran BIBLIOGRAPHY
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