Australia 's Global Trade Agreement

Free trade is the unrestricted purchase and sale of goods and services between countries without the imposition of protection such as tariffs and quotas. This enables economies to focus on their core competitive advantage(s), thereby maximizing economic output and fostering income growth for their citizens. Australian exports rose from $66.6 billion in 1990-91 to $300.4 billion in 2012-13, with an average growth in export volumes of 4.6 per cent per annum since 1990-91. This is reflective of Australia’s proactive actions to phase out protection since the 1970s. The major effects of domestic and global free trade and protection policies

Australian industries such as steel-making and pharmaceuticals suddenly found themselves filling roles that were previously done by German rivals. Australian government was keen to make sure that Australian wheat, wool and meat reached Britain and helped the war effort there. The government was keen to make sure that the Australian wheat wool and meat industries made it over to britain to help out with the war efforts. So a law was made giving it the power to acquire the whole wheat and wool harvests which had seen to be an impossible action under the Constitution, but were then allowed to be done because of the new law. However, shortages at war and selling scarce goods at a very high price meant that many ordinary working people suffered because of a rise in price and a massive drop in their standard of living. After the war 400 new products were being sold that previously had been needed to import from enemy countries. This meant that there was a major fall in the major cities. At the end of the war the Commonwealth had numerous

Although Australia remains geographically isolated from the world, international trade still remains a main factor that allows Australia’s economy to prosper. Australia’s long history of trade has created tight links and connections with other nations. Being a member of many worldwide organisations, Australia has produced many free trade agreements with countries around the world. However, recently Australia has seen a change in the composition and direction of its trade and has developed a strong trade link with the Asia-Pacific Region.

Some Major benefits of international trade include the reduction of poverty, expansion of business opportunities for local companies and reduces costs for consumer.

Colonial governments applied tariffs (extra payments for imported goods) when goods were being transferred across borders. These taxes also created unnecessary tension between the colonies. Support would have grown towards Australia becoming a federation in order to remove restrictive trade taxes. People in the late 19th Century would have seen the benefits of creating a single market as strengthening the economy.

Another prospect is Australia’s mineral resources. Australia is predicted to be holding much of iron ore, coal etc. This means that we are on top of vast resources that can be sold to other countries. Japan would benefit as it purchases a large amount of our coal and iron ore. This advantage could also be used to lever a FTA with the Japanese. The infinite capabilities of Japanese technology would allow Australia to keep up with the world in many areas. Of course, most of these are technologically related.

Australia and Germany's political Germany was not the same as it was before. Australia has many different brands that are sold in Australia that are also traded with Germany. Germany and Australia work together to discuss issues like counter-terrorism, poverty alleviation and climate change. Germany is Australia's 9th largest trading partner while Germany is the sixth largest destination for Australia's investment abroad. Many German companies and brands are also operated in Australia and many Australian companies are operated in Germany.

The impact of globalisation has also changed the structure of Australia 's trade. There has been considerable growth in manufacturing and service industries with limited growth in the rural sector (Table 2). This reflects a combination of changes in world demand and domestic structural reforms.

China is one of the biggest countries along with Thailand and Japan who make goods for Australia. Being Australia’s third largest merchandise trading partner and seventh largest service export market in 2003, China might significantly affect the Australian economy through any changes made to its trade policies. A more liberal Chinese trade policy could increase Australia’s income in part through greater market access for its exports. Of every hundred dollars of national

China, Australia’s second larges export destination, is a growing economy. The labours in china are really cheap, so a lot of companies set up new manufactures in China and close down manufactures in other countries. A Chinese is satisfied getting 800 yean month, three meals a day and a bed to sleep. There are also people, who are willing to work for even lower labours. So if Australia would have a FTA with china it could profit from the fast growth and development of China. China’s growing manufacturing industry needs large volumes of raw materials, which could be supplied by Australia. “Most Farmers and key agricultural exporters –wool, beef, dairy and grains- have set up their sights

Australian-Indonesian relations are the foreign relations between the two countries, whether economically, politically, legally or socially. Australian-Indonesian relations involve an interaction in foreign policies between the two nations (Wolfsohn, 1951, p. 68). As long as Indonesia is Australia 's closest and largest neighbor, they are bound to have great international relations. These relations began as early as the 17th century and had only become enhanced with time (Daly, 2003, p. 397). The relationship has been defined by a conjoint growth trade of up to $14 between the years 2011-2012 which reports an increase from the previous economic year (Mark, 2012, p.402). These countries are members of various trade deals such as the ASEAN Regional Forum in addition to having close ties with education, defense, and leadership. Australia 's relationship with Indonesia is crucial, and lack of such could severely bruise the economy, and hence they need to keep united by ensuring the use of widespread media with beneficial input. Australia interacts with Indonesia in a way such as sporting activity, tourism, education, economic policies, youth exchange programs, cultures and above all their diplomacy (Okamoto, 2010, p.241).

With a GDP of over $1 trillion USD, the Australian economy is among the largest in the world (Cornett and Saunders, 2014). Australia is trading partners with the United States, China, and Japan, but their economic ties are mainly centered in the Pacific Rim. Exports are crucial to the country’s GDP and this has created problems regarding sustainability in the Australian economy.

The prices of these would also be lowered, encouraging purchases, therefore increasing profits and income of businesses and workers as a result. More employment opportunities would also be available as the related industries see widespread expansion. Overall, Australia’s economy would see an increase in GDP of between $4.1 to $6.4 billion by 2030 as a result, while the European Union would see an increase of approximately €4.9 billion ($8 billion). The multilateral agreement would also encourage European businesses to target Australian consumers, or even expand into the

Australia has several ties with other countries. These ties are established in several ways, one of which is through trade. The nature of trade includes exporting and importing goods and services which form trade links with partner countries. Trade comes with its advantages and disadvantages. Australia also takes part in multilateral agreements, such as APEC, to be able to strengthen trade links.

First of all, international trade creates and supports jobs. Australia’s free trade agreements with, China, Japan and South Korea created around 7,900 jobs in 2016 and it’s estimated that by 2020 it will jump to 14,500. Additionally, 1 in 5 jobs in the Australian economy involves trade-related activities.