Australian and United States of America International Business Relations

Topics: International trade, World Trade Organization, United States Pages: 11 (3660 words) Published: August 3, 2013
Australian and United States of America International Business Relations

Wayland Baptist University – San Antonio

MGMT 5326, SA02 – International Management
Paul D. Maple

Professor Dr. William Cojocar
April 28, 2013

Abstract

Two countries, the United States of America and Australia, who were both born on the backs of exiled refugees from English monarchy, became strong allies shortly after December 1941, due to Imperialist Japan attacking Australia during World War II. This paper identifies the shared values of America and Australia, their economic relations, security, and political interests. Seventy years of continuous reliance, these two countries have paramount trade relations, strong military support for each other, and harmonious political interests balancing a rich respect for one another. This paper will support these claims with viable statistics and knowledge on the subject from reputable sources. Keywords: ANZUS, AUSMIN, quadrilateral security dialogue, trade, treaty

A Tradition of Shared Values
Src: The-Tennis-Freaks.com
Australians like Americans because they are much like Australians. Their background as pioneers is similar, and it shows in their self-confidence, loud laughter, willing handshake, and general friendliness. And most Australians believe the Yanks saved them from Japanese invasion in World War II (Culture Smart, p. 43). Since 1942 Australia and the United States of America have shared similar federal constitutional experiences and a sense of shared destinies as young, vigorous democratic nations. Since World War II, these two countries have made a strong commitment together to shared political and social values such as liberal democracy, freedom and basic human rights. They have shared a commitment to the goals of world peace and stability, and to the institutions of the post-War period such as the United Nations and the World Trade Organization (Australiaushistory, 2013). Trade and Investment

The United States is a major trading partner to Australia. The United States is Australia’s fourth largest export market and its second largest source of imports. The United States is also the largest investor in Australia while Australia is the fifth largest investor in the United States (DFAT, 2012).

United States-Australian Free Trade Agreement

The United States-Australia Free Trade Agreement (FTA) entered into force on January 1, 2005. U.S. two-way trade with Australia was $26.7 billion in 2009, up 23 percent from 2004. U.S. goods exports were $18.9 billion in 2009, up 33 percent from 2004, and U.S. goods imports were $7.8 billion, up 3.5 percent from 2004 (USTR, 2012). Agricultural trade between the United States and Australia continued to grow in 2009. The FTA established working groups aimed at promoting closer cooperation between the two countries in this sector and creating a forum for discussing agricultural and sanitary and phyto-sanitary issues. The working groups met in August 2009 to address specific bilateral animal and plant health matters with a view to facilitating agricultural trade (USTR, 2012). In October 2009, the United States and Australia completed the fourth annual FTA review. The two sides reviewed implementation of the agreement and exchanged views on a range of issues under the FTA, including trade in agriculture products, sanitary and phytosanitary issues, government procurement, and protection of intellectual property rights (USTR, 2012). The United States and Australia also discussed each government’s implementation of the obligations contained in the environment chapter of the FTA and exchanged views on how to improve communication on trade and environment issues (USTR, 2012). The United States and Australia also provide significant competition for each other in several third-party exports such as wheat, uranium and wool and, more recently, in the information technology sector. Although the US...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • International business Research Paper
  • international business Essay
  • International Relations Essay
  • Culture and International Business Essay
  • International Business Essay
  • International Business Essay
  • International Business Essay
  • International Trade and United States Essay

Become a StudyMode Member

Sign Up - It's Free