A diverse range of comprehensive free trade agreements between Australian and certain overseas countries play an important role in supporting trade liberalisation and are allowed under World Trade Organisation (WTO) rules. These open up opportunities for exchanges between markets and investment.
Australia currently has six FTAs in place with New Zealand, Singapore, Thailand, US, Chile and the Association of South East Asian Nations (ASEAN). The countries covered by these FTAs account form 28 percent of Australia’s total trade. Nine additional trade agreements are under negotiation and once complete are expected to account for an additional 45 percent of trade.
Multiculturalism has meant that Australia has become home to people from all over the world, especially south East Asia. In turn this opens doors to business partnerships with the world’s fastest growing economies. Australia is an excellent starting point for businesses wishing to have a stable base in order to then leap into these rapidly growing markets.