Globalisation and trade liberalization are worldwide phenomena that have

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

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.

In recent times, Australia and the European Union have begun to cooperate with the goal of starting a multilateral free trade agreement in order to benefit every nation involved. A free trade agreement will encourage trade between the member countries by removing or reducing artificial restrictions (tariffs, quotas, subsidies etc.) which could negatively impact their trade. As of the present, negotiations surrounding the details of the agreement have begun, following the EU’s approval ahead of the UK’s brexit. This decision has been sped up due to the UK’s brexit as well as the US’s decision to impose

The Changes in Global Economy There are a number of aspects to globalisation that have led to the greater interconnection between economies; improvement in technology, communication and information flow, as well as increased trade, investment and capital flows. Improvements in transport have made it easier for people to live, study, travel and work abroad. As the effects of globalisation have increased, so has Australia’s integration with the world economy. Australia’s prosperity is more connected than ever to developments in the global economy. Our trade with the world is equivalent to 41 per cent of our GDP (Trade and Investment, Australia's Economic Diplomacy, 2017)

Trade has a large impact on Australian society, however this can either be in a positive or negative manner. Australia gains many benefits from trading with other countries, in aspects such as cultural exchange, monetary gain, and the swapping of

•Removing as much as $1 billion of tariff imposts from what Australian consumers pay for Chinese clothes, shoes, car components, cars and

Protection refers to any action by a government that is designed to give domestic industries an artificial advantage in their competitiveness with foreign imports. Since the 1970s Australia has made policy changes to reduce levels of protection and to promote free trade - in order to stimulate greater industrial efficiency and to lower the prices of imported consumer, intermediate and capital goods. In its entirety, average tariff levels in Australia have continued to drop in recent years – falling from 9% in 1944 to 1.3% in 2014, highlighting Australia’s support for free trade on a global level. Australia has also been continually involved in multilateral agreements, such as the WTO. Despite these steps taken towards liberalised trade, Australia continues to protect various domestic industries – primarily the textiles, clothing and footwear (TCF) industry and recently motor vehicles, as well as other manufacturing and agricultural producers. However while Australia aims to liberalise trade there are multiple industries that are affected adversely by the continuation of protection globally.

As a nation with global interests, Australia deals with many countries in many regions and one of

Free Trade Agreements (FTA) are international treaties that reduce barriers to trade and investment. Australia has many Free Trade agreements both multilateral and bilateral which provides Australia with better access to the market, and improved competitive position for Australian exports and reduces import costs for both Australian businesses and consumers. The publication “Trade at a Glance 2015” (Source 1) states that as of 2014, Australia’s Free Trade Agreements have accounted for 67% of their Trade. This demonstrates how trade agreements not only allows for Australia to earn money and support its economy, but to support its small businesses and companies. Using trade agreements to connect with other countries allows for easy access to

Given the fact that China is now Australia 's largest two-way trading partner, should Australia -- particularly in view of the possible impact of China-ASEAN free-trade agreement on Australia 's trade with China – fast track its negotiations with China for a free trade agreement (FTA)? Write a policy report for the Australian Senate.

Australia has always leaned heavily on China as a key trade partner China being the fastest growing nation creating the need for raw materials. A key investor Australia remaining as Chinas preferred investment Candidate. As well as a labour market offering cheap labour to Australian businesses, large commodities buyer and limited taxation and an average of 50% cheaper materials. Creating a heavy reliance on China showing that ultimately Australian businesses would not be able to survive leading to catastrophic events such as recession.

f) Legal analysis : The Australia-United States Free Trade Agreement (AUSFTA) came into force on 1 January 2005. The AUSFTA is an agreement that

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

With the recent major events, such as Brexit and the Trump Presidency, concerns are increasing about trade barriers and the negative impact on Australia by the growing global protectionist movement. Trade protectionism is alive and well in the Global 20 which is made up of the countries that account for seventy-eight percent of global trade. However, the protectionism adopted by countries in the Global 20 is not in the form of tariffs, but through import quotas, local content rules and subsidies. Australia has no need to reconsider its trade policy as overall, protectionism will not

The benefits of the TPPA are immense for New Zealand as it includes 9 countries consisting of 40% of the world economy, benefiting New Zealand by over $300 million per year. The reduction in minimal tariffs will lead to huge gains in New Zealand primary sectors in both importing and