Australia's Free Trade Agreements (FTA)

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

1. The exchange of goods and services between international borders or territories is known as international trade. It allows countries to use excess resources, if the resource can be produced more efficiently then it can be sold cheaply. If a country lacks access to certain resources they can obtain that

Free Trade Agreement between Australia and China 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

On this week’s issue of “Historians Weekly” we’re finally going to be starting up our new and anticipated series “Policies of Aboriginal Australia”. To start us off I will be looking at the policy of protectionism and why it was replaced by the policy of Assimilation.

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.

Australian Government is currently apart of nine Fair Trade Agreements (FTAs), soon to become ten, which all play parts in ensuring that trading nationally and internationally is ethical and respectful of individual’s human rights. Australia is also a member of the World Trade Organisation (WTO), an international organisation that provides a forum for countries to negotiate their issues regarding trade and fair trade. All of the FTAs were therefore supported by and fit under the main principles of the WTO. The main benefits of fair trade and, thus, the WTO’s work, is that it ensures that products have been sourced ethically and makes it quite simple for consumers to check if their products are sourced ethically. Of course despite this, many

I am deeply troubled by the rumours among the government recently that with the election of President Trump that free trade may be affected. I’m pleading with you as the minister for trade, tourism and investment to save Australia’s free trade industry so we as a nation may continue

Australia’s Position in the global exporting market is only 22nd, which is far from its leading top trade partners that fit in the Top 5. Also, Australia’s global ranking in the global importing market is 18th, which is under India whose economic status is much lower than Australia. A second disadvantage that Trading brings to Australia is the competition between local small businesses and Trans National Corporations (TNC). Local businesses are closing down and being taken over because of the increase in the entrance of TNCs in Australia. Large Fast food chain Corporations like McDonalds, put local fish and chips shops under pressure. Another disadvantage with Australia being part of International trading is that most of the products that Australia export are agricultural goods that has high tariffs, making it costly for Australia to be able to export.

Global links research- Trade Trade is somewhat beneficial to Australia's position in the Asia-Pacific region. Australia's role in trade has several agreements that is tied with the other countries in the Asia- Pacific that helps our position. These agreements are social justice and equality issue the is trade with under developing countries and if all the workers are treated equally. Geopolitical advantage is the factors that affect Australia and other countries in the Asia- Pacific with their politics position and geography position. Trade has an economic advantage to Australia position which is gonna be a great investment for further years in Australia economy. We can therefore see that Australia position is very high in the Asia- Pacific

72% of Australia’s two-way trade is within the APEC countries. Like the G20, this trade relationship is quite significant. Australia’s single top import is personal travel services, however overall most of what Australia imports is petroleum products and motor vehicles. It’s appetite for refined petroleum increased by 12% over the past 5 years. Australia’s top exports are its natural resources, iron ores, coal and natural gas. (Australian Government: Department of Foreign Affairs and Trade, 2014)

Free Trade Agreement & Its Impact on the Economy After the end of World War II, the Governments began having an active interest in making trade liberalization a reality via multilateral negotiations (Baldwin & Jaimovich, 2012). At the time, the United States was aggressively pursuing liberalization of international trade by forming mutual trade agreements between several counties in successive rounds of multilateral negotiations via the General Agreement on Tariffs and Trade (GATT) and later the World Trade Organization (WTO). However, in the past few years, there has been a growing concern over the effectiveness of multilateral negotiations (Cooper, 2014). This concern has led to the formulation of Free Trade Agreement (FTA), which removes nearly all trade subsidies and restrictions for both individuals and a business around the world. Currently, several FTAs have been signed and proposed between countries (Baier et al., 2014). Economists around the world believe that the FTA now includes a large part of the world’s economic output, and, thus, their impact should be studied in greater depth and detail. The consensus over the impact of FTA is that all their effects, good or bad, should be extremely minimalistic on all the countries involved. The following report provides background on the FTA, examines the FTA regulations, and discusses the impact that the FTA has on the global economy.

Trade policy is defined as a collection of rules and regulations that are made by public officials which relate to trade (Trade Policy, 2010). An organisation that makes the rules of trading amongst its member nations is the World Trade Organisation (WTO). They are the ones who handles trade issues, supervises trade policies, gives technical assistance to developing countries and participates with other international trade organisations (World Trade Organisation, n.d). New Zealand is an example of a country that works with the WTO. Due to this, it enables them to have a free trade policy. Trading is essential to New Zealand’s economy, as they can only afford the services and goods that they import by selling exports to other countries. Free trade

• Trade Agreements. NZ is a small country that is very dependent on international trade and has close trading links with Australia and China in particular. Our most mature industries focus on tourism and agricultural product exports (MFAT, n.d.). The government is very keen on obtaining free trade agreements aimed to make trade more efficient and profitable by eliminating or reducing tariffs, simplifying customs, removing unnecessary restrictions on items of trade, and generally making it easier for business people to travel to other countries.  Also, NZ’s membership of the World Trade Organisation (WTO) means that the country benefits from the WTO rules and can settle disputes with trade partners. NZ has free trade agreements

We live in an age of unprecedented globalization. Trade occurs across state and international lines making the world’s citizens better off. Free trade is crucial to this improvement in well-being. Unfortunately, all current presidential candidates are against free trade. In particular, the Trans-Pacific Partnership (TPP,) a massive multilateral Free Trade Agreement (FTA,) is facing strong opposition. Economists frequently cite the benefits of trade and the importance of free trade between nations. In this fashion, many FTAs have been made in recent history. In fact, since 1994 the number of FTAs has increased from 47 to 262 (Aggarwal 2016.) There are great benefits to be had from such agreements, but also there are many complications of such a large number of small agreements between countries. This paper will evaluate some of the current FTAs and propose improvements to help open up international trade. d

Global Trade is one of an essential activity that undertakes between two nations in a modern world (Buckley & Casson, 2016). It can be accessed not only by a wide range of product or service market but also accompanies competition through competitive advantage even though it is between countries like New Zealand and Australia. The international trade in these countries accompanies a total of 20-30% of GDP. However, the future growth rate of Australia and New Zealand is strong and opts to increase economic nationalism through the continuous balancing of policies, globalization and technology.