Doing Business in Australia
EENI - Business School.
Subject (Course): International Trade and Business in Australia. Syllabus:
- Introduction to Australia (Oceania).
- Australian Economy.
- International Trade of Australia.
- Foreign Direct Investment (FDI) in Australia.
- Business Opportunities in Australia:
- Financial services
- Case Study: Information and Communications Technology sector.
- Doing Business in…
- Access to the Australian Market
- Business Plan for Australia
Objectives of the subject “Doing Business in Australia”:
- To analyse the Australian economy and foreign trade
- To evaluate business opportunities in Australia
- To explore Australia's trade relations with the student's country
- To know Australia's Free Trade Agreements (FTAs)
- To develop a business plan for the Australia market
Sample of the subject - Doing Business in Australia
Subject Description: Foreign Trade and Business in Australia.
The Commonwealth of Australia (Asia-Pacific).
- The capital of Australia is Canberra.
- Sydney is the city of business.
- The other main Australian cities are Melbourne, Brisbane, Perth, and Adelaide.
- Six Australian states are New South Wales, Queensland, South
Australia, Tasmania, Victoria, and Western Australia.
- Australian population is 23.6 millions of people
- Area: 7,692,024 square kilometres (sixth largest country in the world)
- Australia (almost a continent) does not share borders.
- 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 independence from Britain in 1901
- In 1975 Papua New Guinea gained independence from Australia
Australia belongs to the Economic Area of Oceania of the Western Christian Civilisation
- Christianity (Protestantism) is the main religion of Australia (16
millions of people, 1 million of Methodists), there are 5 million of Catholics.
- In Australia, there are about 160,000 Maronite (Christians).
The Australian Economy.
Australia is the world’s 13th largest economy.
Australia: strategic location for international business opportunities in the Asian markets (the People's Republic of China, India, and the ASEAN Markets)
- 20% of the gross domestic product in Australia is generated from international trade
- Services are the pillar of the Australian economy, which
account for just over 60% of economic activity.
- Foreign direct investment stock: 36% of the GDP
- The United States and the UK are the largest investors
- The Australian economy was ranked in the top three economies in the Asia-Pacific region for its competitiveness.
- Australia has a top rank financial services sector. Australia has a very sophisticated financial sector and is one of the largest financial centres in the region.
- Australia is well placed to capitalise the growth of China and India.
- The currency is the Australian dollar (AUD)
International Trade of Australia.
- Australian exports: more than 20% of GDP. 176,000 million dollars
- Asia-Pacific: 68% of the foreign trade (products and services).
- The main export products of Australia: coal, iron ore, gold, meat, wool, wheat, machinery, and transport equipment.
- The largest export markets of Australia: China, Japan, South Korea, India, the United States, and the United Kingdom.
- The main import products from Australia: machinery and transport equipment, computers, telecommunication, crude oil.
- The main suppliers of Australia: China, the United States (20,050 million dollars), Japan, Thailand, and Singapore.
- Countries belonging to the Asia-Pacific Economic
Cooperation - Pacific (APEC) represent 68.1% of the foreign trade of Australia of products and services.
- The United States is one of the biggest partners of Australian products, the largest trading partner and the largest source of foreign direct investment (FDI).
- Japan has been the largest export market for Australia
for forty years. Product exports to Japan amounted to 52,500 million
dollars, more than the combined value of exports of goods to China
and the United States.
- Australia's 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 international 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 (EU) remains one of the most significant investors in Australia; European investments represent about 34% of the total foreign direct investment (FDI).
Australia's market access and Free Trade Agreements (FTA):
Australia has bilateral Free Trade Agreements with New Zealand, the United States, Singapore, Thailand, and Chile, and a regional
Free Trade Agreements (FTA) with the Association of South-East Asian Nations (ASEAN) and New Zealand.
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 (FTA) with the Gulf Cooperation Council (GCC), the Trans-Pacific Partnership
Agreement (TPP) and the New Pacific Trade and Economic Agreement (PACER Plus).
- Asia-Pacific Economic Cooperation (APEC)
- Australia-New Zealand Closer
Economic Relations Trade Agreement
- Australia-United States (FTA)
- Australia-Chile (FTA)
- Singapore-Australia (FTA)
- India-Australia (FTA)
- ASEAN-Australia-New Zealand (FTA)
- Trade Agreement with the Gulf Cooperation Council (GCC) and Honduras.
- Indian-Ocean Rim Association (IORA)
- Trans-Pacific Strategic Economic Partnership Agreement (TPP)
Australia in member of…
- Pacific Islands Forum (PIF)
- Oceania Customs Organisation (OCO)
- Forum for Asia
- The Economic and Social Commission for Asia and the Pacific (ESCAP)
- Forum for East Asia-Latin America Cooperation (FEALAC)
- Asia-Europe Economic Meeting (ASEM)
- Colombo Plan
- Africa-Asia Strategic Partnership
- Council of Pacific Economic Cooperation (PEEC)
- OECD anti-corruption measures
- United Nations (UN), the World Trade Organisation (WTO), Commonwealth, the International Monetary Fund (IMF), the Organisation for Economic Cooperation and Development (OECD)