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Austraila's Trade and Treaties

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Introduction

'International trade creates links between countries through the export and import of goods and services. Australia has a complex pattern of trade links that has changed over time as our export base has broadened and diversified. Australia's major items of trade Australia's trade involves the exporting and importing of both goods and services. Traditionally, primary products, including agricultural goods (such as wheat, wool and beef) and minerals (such as iron ore, gold and aluminium), have accounted for a significant proportion of Australia's exports. Exports of these commodities remain an important component of Australia's trade. Australia's exports of manufactured goods have been slower to develop. As a nation we tended to rely on primary industry exports to finance the purchase of manufactured goods from oversees. ...read more.

Middle

Australia's main trading partners The direction of Australia's trade with the rest of the world is subject to change. Over the past centaury Australia's trade focus has shifted away form a reliance on European markets. The decision by the UK to increase its trading links with other European nations in the 60's forced Australian exporters to seek new trade relationships. These relationships were found in the rapidly expanding economies of the Northeast and Southeast Asia. By 2000 Australia's trade focus was firmly on the members of the Asia-Pacific Economic Cooperation group (APEC). Nine of the Australia's ten major trading partners are members of APEC, accounting for more that 70per/cent of Australia's exports and imports. Trading agreements and treaties The process of globalisation has presented a number of challenges of countries in the Asia-Pacific region. ...read more.

Conclusion

Bilateral agreements are important to Australia because they promote free trade and help to address important issues, such as overseas investments, trade in services, policy differences between countries and electronic commerce. Often issues such as these groups very complex and affect a number of stakeholders (interest groups). Bilateral agreements help to deal with these complexities by establishing common ground between countries. One of Australia's most important bilateral treaties is the Closter Economic Relations Treaty Agreement (CER) between Australia and New Zealand, which was signed in 1983. ' Conclusion In conclusion Australia has many links to the Asia Pacific region. Just one of them is explained above. The attached paper's is an overall summary of Australia's links to America, Japan, China and Indonesia. I hope you have enjoyed my assignment and are about to enjoy my following summary of some various links with the Asia Pacific Region. ...read more.

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