Global Economic Organizations and Conventions of Australia
Pacific Economic Cooperation Council (PEEC);
Commonwealth;
OECD
OECD anti-corruption measures.
UN
UNCTAD;
ITC;
UNCITRAL;
WIPO.
WB;
WTO;
IMF;
...
The Commonwealth of Australia (Asia-Pacific).
The capital of Australia is Canberra;
Sydney is the main Australian city of business;
Other Australian cities are Melbourne, Brisbane, Perth, and Adelaide;
Australian states: New South Wales, Queensland, South
Australia, Tasmania, Victoria, and Western Australia;
Australian population: 23.6 million people;
Area of Australia: 7,692,024 km² (the sixth largest country in the world);
Australia (almost a continent) does not share borders with any country;
Indonesia, East Timor, Papua New Guinea, Solomon Islands, Vanuatu, New Caledonia, and New Zealand are the closest countries to Australia;
Australia has no official language, although English is the language of Australians, as well as several aboriginal languages;
Australia is a Federal Parliamentary Constitutional Monarchy; Queen Elizabeth II is the Head of State;
Australia gained the independence from the UK in 1901;
In 1975 Papua New Guinea gained the independence from Australia.
Australia belongs to the Economic Area of Oceania (Western Civilization).
Christianity (Protestantism) is the main religion in Australia (16
million people, 1 million of Methodists), there are 5 million of Catholics.
160,000 Maronites (Christians).
Australian Economy.
Australia: an strategic location for international business opportunities in the Asian markets (China, India).
20% of the Australian gross domestic product is generated from international trade;
Services are the pillar of the Australian economy, which
account for just over 60% of the economic activity;
Foreign direct investment stock: 36% of the Australian GDP;
The United States and the UK are the largest investors in Australia;
The Australian economy was ranked in the top three economies in the Asia-Pacific region for its competitiveness;
Top rank financial services sector. Australia has a very sophisticated financial sector and is one of the largest financial centers in the region;
Australia is well placed to capitalize the economic growth of China and India;
Currency of Australia: Australian dollar (AUD).
International Trade of Australia.
Australian exports: more than 20% of the Australian GDP. 176,000 million dollars;
Asia-Pacific Markets: 68% of the foreign trade (products and services);
Main export products of Australia are coal, iron ore, gold, meat, wool, wheat, machinery, and transport equipment;
Largest export markets of Australia
are China, Japan, South Korea, India, the U.S., and the UK;
Main import products from Australia are machinery and
transport
equipment, computers, telecommunication, crude oil;
Main suppliers of Australia are China, the U.S. (20,050 million dollars), Japan, Thailand, and Singapore;
The countries belonging to the Asia-Pacific Economic Cooperation - Pacific (APEC) represent 68.1%
of the Australian foreign trade of products and services;
The United States is one of the largest
trade partners of the Australian products, and the largest foreign direct investment source (FDI);
Japan has been the largest export market for Australia
for forty years. Export products to Japan amounted to 52,500 million dollars, more than the combined value of the exports of goods to China and the U.S.;
Australian foreign trade with China reached 83,000
million dollars. Australia exported products and services worth
44,400 million dollars to China;
Bilateral trade relationship with Indonesia is stable with a total
foreign trade of 11.5 billion dollars, making Indonesia its 13th largest trading partner;
Singapore is the largest trading and investment partner of Australia in the ASEAN Region;
The European Union remains one of the most significant investors in Australia; the European investments represent about 34% of the total foreign direct investment.
Australian market access and Free Trade Agreements
Australia has bilateral Free Trade Agreements with New Zealand, the U.S., Singapore, Thailand, Chile, and the Association of Southeast Asian Nations (ASEAN).
Australia is negotiating seven Free Trade Agreements and bilateral agreements with the People's Republic of China, Japan, Korea and Malaysia, and regional/multilateral Free Trade Agreements with the Gulf Cooperation Council (GCC), the Trans-Pacific Partnership
Agreement (CPTPP) and the New Pacific Trade and Economic Agreement (PACER Plus).
(c) EENI Global Business School (1995-2023)
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