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Transcript of Australia
Australia is located in the Southern Hemisphere, near Indonesia, New Zealand and Papua New Guinea.
Where is it located?
Australia has approximately 23 million people.
About 18% of Australians speak a language other than English. The most common languages other than English are Italian, Greek, Cantonese, Arabic, Mandarin and Vietnamese.
Australia's climate varies because the continent is so large. The northern states usually experience warmer weather, while the southern states experience cooler weather (especially in the winter).
GDP per capita
Major Trading Partners
Global Business Ethics
How Is Business Conducted?
Do's and Taboo's
Do maintain personal space and keep eye contact when speaking to an Australian, this is important in their culture.
Do not blow your nose in public, it is socially unacceptable
Do not visit without an appointment.
Do not be offended being addressed by your first name. In Australia, first names are used both in personal greetings and business correspondence. Professional titles are not prominent in Australian business.
History and Infrastructure
Conclusion and Why an Investor Would Want to Do Business in Australia?
Agriculture and Horticulture (farming)
Forestry and Minerals
USA - 15.8%
Japan - 12.5%
China - 11%
Germany - 6.1%
UK - 4.2%
Japan - 13.9%
USA - 6.7%
China - 6.4%
New Zealand - 5.7%
South Korea - 5.7%
UK - 5.2%
Taiwan - 2.6%
key values that reflect the Australian way of life
Freedom of speech
Freedom of religion
Equality regardless of sex, marital status, religion, nationality, disability or sexual preference
A 'fair go' (equal opportunity) for all and support for the underdog.
Australians love their sports and most people watch the finals of major sporting events, even if they don't normally have an interest in the sport. Popular events include the State of Origin and Melbourne Cup.
Some problems that have occurred in Australia are as follows: homeless shelters, bullying, racism, and violence. These problems have affected families, homes and the communities in each city. However, they have made social risk projects and departments that have helped make awareness for the issues.
Natural disasters are quite common in Australia, mainly bush fires, floods, severe storms, earthquakes and landslides.
The major disaster that affects business in Australia is drought. It is the driest of all inhabited continents.
Natural Disaster preparation plan
Australia's Membership Status
WTO - World Trade Organization
Since January 1st 1995 - supporting lowering trade barriers, creating jobs, competition in trades, and the protection of the environment's health.
OECD - Organization for Economic Cooperation and Development
Since June 7th 1971 - supporting economic and social development within Australia's own government.
World Bank Group
Since August 5th 1947 - supporting the financial and tachnical assistance to developing countries around the world to end poverty.
International Monetary Fund
keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to member. Monitoring the economic and financial policies from each member party
Australia has one great history , benefiting their economy as well their development was the gold rush in the nineteenth century; 1851. The discovery of gold. Making the beginning of Australia's big change .
In the span of two years Victoria (one of Australia's major states) had grown from the population of 70, 000 to 500,000.
The origins of Australia before it was a country, were being a penal colony with the British.
When the gold was discover, the British wanted to take over the land.
The Australians had enough people and wealth to break from the British and became their own country in January 1st, 1901; although its still connected as a commonwealth country.
Unique culture and history
Nice, rich background
Reflection of the Country's land, food, lifestyle, and cultural practices
And of the history of the immigrants coming to the country long ago
Why we chose this country to do as an IBP is that we both want to go visit it some day and might as well learn their ways of life at school.
Australia has changed their competitive advantage from mining to innovation.
Creating more jobs for Australians in industries of business, education, government agencies, media, and other job careers to forward their economy.
Originally, coal was their main advantage for international trades.
Australians doesn't want to rely on alliances as much; they're trying to support themselves first.
Company treating customers fairly and honest about its business practices
Show respect of individuality and privately
Direct and straightforward communication with negotiations to each customer
Upfront with judgement only for actions and skills; not title or rank.
Equality is the most important social form for Australians, especially in the business world. They avoid drawing attention to their academic or professional accomplishments. Instead, they look to a person’s abilities and performance.
Australia had a financial crisis in 2007 (also a lot other countries). Stock markets suffered and unemployment was taking place. However early in 2009, The United States passed the 'American Recovery and Reinvestment Act of 2009'; providing temporary relief programs that were impacted by the recession and invested in infrastructure, education, health and renewable energy.
Another fact that connects with the crisis. Australia had the best job growth out of the OECD (Organization for Economic Cooperation and Development); Beating Canada, Japan and the United States.
Innovation is the main subject of jobs. Creating jobs in small or large business industries, education, and in government
Ensuring fairness and non-discriminatory consideration is given to applicants. Everyone has an opportunity at a job in Australia at the moment; with the high demand for employees. However some jobs are need more special requirements to apply for.
Business is conducted in Australia with being modest as they can be. Frowning upon on professional achievements. They always look for skills as well good actions benefiting the company as well the consumer.
Started with shaking hands before and after meetings
avoiding any emotional influence upon discussion in relation of business subjects
Serious about business and prefer to get straight down to business
No small talk
Negotiations should be brief and to the point; no bargaining
Clothing to wear in Melbourne or Sydney, they wear dark suits and dresses. Although like in Brisbane or other tropical areas; a shirt and a tie are acceptable.
Therefore Australia welcomes a wide variety of businesses to any investor that wants to join in contributing to economic growth, innovation, and success.
Once proposal is approved, foreign investors are generally treated the same as domestic investors under Australia’s laws.
Since 2014 it has been a good time to invest in businesses from the growth of employment rates and opportunities. Benefiting Australia's economy as well trade agreements with other countries.
About 1.56 trillion USD in 2013
About $67,458.36 USD in 2013
It's a little bit smaller than Canada
Sydney Opera House
Located in Sydney, New South Wales, Australia
Multi-venue performing arts center
Designed by a Danish architect who was selected because he won an international design competition
Opened on October 20th, 1973 (Almost 42 years old)
Great Barrier Reef
World's largest coral reef system
Located in the Coral Sea, off the coast of Queensland, Australia
It can be seen from outer space
CNN labeled it one of the seven natural wonders of the world
1.3% in 2014
6.2% in 2014, but it has been decreasing since then
US – Australia Free Trade Agreement (AUSFTA)4
Started on January 1st 2005
Two-way trade was $26.7 billion in 2009, up 23% from 2004
Agricultural trade continued to grow in 2009
Aimed to promote closer cooperation between Australia and the U.S. in the agricultural sector and creating a discussion on agricultural and sanitary issues (phytosanitary).
China- Australia (ChaFTA)5
Conclusions for the agreement were made on November 17th 2014
China will help open up opportunities for Australia since they’re their largest export market for goods and services.
Korea- Australia (KAFTA)6
The agreement was signed on April 8th 2014
They have one of the strongest trading relationships in the Asia-Pacific region
The agreement will provide an important boost in Australia’s economy
The agreement will help exporters, imports and consumers in Australia by opening markets and freeing trade and investment; the FTA protects the competitive position.
promoting good practices with transportation's safety and security