Eu And Australia Case Study

Since Australia’s first free trade agreement (FTA) with New Zealand in 1983, Bilateral and Multilateral FTA’s have been a great advantage and focus in securing economic prosperity for Australia. Australia’s two-way trade in goods and services was A$616 bn in 2012. Australia has seven FTAs currently in force with New Zealand, Singapore, Thailand, US, Chile, ASEAN (with New Zealand) and Malaysia. Together, these countries account for 28% of Australia’s total trade, which displays the great benefit of bilateral FTAs to the Australian economy. Additionally, there are four bilateral FTA negotiations currently in place, two of which are substantial trading partners; China, being Australia’s largest export market (A$78.7 bn) and Japan, being Australia’s second largest export market (A$49.8 bn). The Japanese Free Trade Agreement has been negotiated, and will be a great benefit to the Australian economy, especially the agricultural sector, for example tariffs on beef

China has, for a sustained period of time, been one of Australia's most important trade and economic partners. But this has not always been the case. Since the late 1970s China has moved from a closed, internal focused economy to more of a global market oriented one that plays a major part in other nations economies, like Australia's. Although China is technically a Socialist nation, market capitalism is actively encouraged, much the same as in Australia. In 2010 China became the world's largest exporter, with exports ranging from natural resources to manufactured goods. (CIA-World fact book) Australia's economy, in this sense, differs from that of China's. As Australia is simply too expensive to manufacture goods ("Holden, Ford,

Another major aspect this limb deals with is that of Australia’s relationship with the United Nations and other major international organisations .

Australia is considered among important allies of United States. In the Vietnam war Australia sent a force of 50 000. Being situated in Southern Hemisphere of Southeast Asia, Australia has to face exceptional defense challenges much more than neighboring partner. Historically Australia seems to be willing to accept the major role in military interventions in the surrounding area as can be seen in East Timor.

At the end of World War 2, most countries in Europe were in a wreck. Cities were decimated and economy was failing, it was the time to rebuild. The European Union was an effective way to help Europe rebuild. The EU first started as just a common market for steel and coal, but quickly grew into a union of countries united as one. It is a great opportunity for countries in Europe as the it was created for the sole purpose of preserving peace and preventing another World War on the rebuilding continent. The EU is also very beneficial to countries as it has the best economy in the world, for the peace efforts and the ability to support its members.

On the 8th of July 2014 the Prime Minister of Australia Tony Abbott and the Prime Minister of Japan Shinzo Abe signed the Japan-Australia Economic Partnership Agreement (JAEPA) (Japan-Australia Economic Partnership Agreement, 2016). This agreement has allowed for support in a two-way investment for both these countries. This agreement will bring the economies of both countries closer along their social relations (Japan-Australia Economic Partnership Agreement, 2016). Agreements like these have led to a more successful future for Australia and Japan along with more successful trading relationships with other countries. This can be seen today though agreements such as the Trans-Pacific Partnership.

The Asia-Pacific Economic Cooperation was founded in 1989 with the aim to manage the growing interconnection and trade between the 21 members and to improve the economic and political links. The APEC is assisting to reduce the costs of importing and exporting goods between the Asia-Pacific countries. The members of the APEC include Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong-China, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States, and Vietnam. Together these nations improve the trade between the Asia-Pacific. China still remains Australia’s biggest trading partner. Since Australia’s trade links with the Asia-Pacific have grown, trade accounts for over 42% of the GDP (compared to only 32% in 1990 when relations with the Asia-Pacific were not as strong). Australian trade policies and agreements are focussed primarily on the Asia-Pacific region as eight of the largest export markets are found there. Australia has realised that the Asia-Pacific region is the most important area for trade as geographically it is close and it holds manufactured goods that Australia needs. Members of the APEC now hold over 70% of Australia’s total exporting and importing of goods and services. The rise of China’s influence on the world due to such advances in technology has influenced Australia to trade more with countries around the Asia-Pacific. Australia’s continued trading with the Asia-Pacific has helped to push Australia’s economic

The United States of America is Australia’s most important ally today. When considering what makes an ally so great, we must take into consideration a number of factors. Defence, trade, diplomatic and relationships with other countries. This essay will look at why The United States of America (U.S.) is Australia’s strongest Ally.

The European Union (EU) is a unique economic and political partnership between 28 different countries. It consists of about half a billion citizens, and its combined economy represents about 20 percent of the world’s total economy (Briney, 2015). Today The European Union works as a single market, with free movement of people, goods and services from one country to another. There is a standard system of laws to be followed, and since 1999 many countries share a single currency called the Euro (Europa.eu, 2015). This essay will explore the background history of the European Union and the benefits and drawbacks of the European Union.

An additional advantage of aid is that it provides Australia with strengthened diplomatic, economic and political ties to the recipient countries. As Australia is a prominent aid donor in the Asia-Pacific region, it has strong diplomatic ties with the developing countries of that area, and can therefore receive the benefits from such a relationship with these countries. An example of such a relationship would be the free trade agreements Australia signed with Singapore in 2003 and Thailand in 2005, Australia diplomatic relationship with these nations played a large role in the securing of these two agreements. Australia can also benefit from such a good relationship politically as the recipient country of Australian aid can support Australia’s politics. A strong relationship with a recipient nation would also allow Australia to form economic bonds with the developing country, such as the agreement of tied aid money – were the recipient must spend some of the aid money provided by Australia on Australia’s goods and services, therefore strengthening Australia’s economy. Hence, creating and maintaining strong relationships with recipient nations of Australian aid is advantages as it

Australia’s political view has been recognized by other countries as a strong market leader and a valuable country to have free trade agreements with. All Australians can see that this is a huge benefit to the Australian economy. An increase in trade agreements means more jobs and security for the

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 Common Agricultural Policy (CAP), is the most complex example of common policy in the European Union. Introduced from 1958 to 1968 and still in existence today, it has brought controversy, dispute and political tension within the EU and with the rest of the world. It is also a remarkable example of the movement toward the unknown realm of integration in Europe. However, subsequent reforms have been slow in arrival and have not always achieved the success expected of them. With the new difficulty of enlargement, challenges will require yet more reform of the CAP. The changing situations and context of the policy will be considered in terms of its effectiveness, as will the reforms of

Moreover, since China is the largest export market of Australia, its slowdown of growth probably influences the trade with Australia. At 2015, China’s GDP increasing rate was 6.9% and reached the bottom at 6.7% in the first quarter of 2016 . Some trade with Australia, such as iron ore, base metals and coal, may be affected by this reduction. As a result, we cannot deny that the cash rate may be influenced by the possible drop in the future. However, the Free Trade Agreement (FTA) signed by China and Australia entered into force on 20 December 2015 . Due to the agreement, over 86% of Australia’s goods that export to China