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What Countries Does Australia Have Free Trade Agreements with

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Australia is an export-focused country that depends largely on international trade for its economic growth. The government of Australia has been keen on promoting free trade to ensure that its businesses can access foreign markets without facing excessive tariffs and trade barriers. As a result, Australia has entered into free trade agreements (FTAs) with several countries over the years. In this article, we will take a look at some of the countries that Australia has FTAs with.

1. China

China is Australia`s largest trading partner, and the two countries signed a free trade agreement in 2015. The agreement has given Australian businesses greater access to China`s large consumer market and has reduced tariffs on exports such as beef, dairy, and wine. In return, China has benefited from reduced tariffs on its exports to Australia, including electronics and textiles.

2. Japan

Australia and Japan signed a free trade agreement in 2014, which has eliminated tariffs on 97% of products traded between the two countries. The agreement has increased opportunities for Australian businesses to export to Japan, including in the automotive, beef, and dairy sectors. The agreement has also provided opportunities for Japanese businesses to invest in Australia, particularly in the agriculture and resources sectors.

3. Korea

Australia and Korea entered into a free trade agreement in 2014, which has resulted in the elimination of tariffs on most goods traded between the two countries. The agreement has facilitated increased trade in areas such as coal, iron ore, and beef, with the potential to expand trade in the services sector in the future.

4. Singapore

Australia and Singapore have had a free trade agreement in place since 2003. The agreement has reduced tariffs and provided opportunities for Australian businesses to access Singapore`s market in areas such as education and healthcare. The agreement has also facilitated increased trade in areas such as resources, telecommunications, and financial services.

5. Thailand

Australia and Thailand signed a free trade agreement in 2004. The agreement has eliminated tariffs on most goods traded between the two countries, including agricultural products such as beef, dairy, and sugar. The agreement has also facilitated increased trade in areas such as resources, tourism, and education.

In conclusion, Australia has entered into several free trade agreements with countries around the world to facilitate increased trade and investment opportunities for Australian businesses. These agreements have helped to eliminate tariffs and reduce trade barriers, providing greater access to foreign markets for Australian businesses. As a result, these agreements have played a vital role in promoting economic growth and prosperity for Australia.

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