AUSTRALIA

Trade Policy:
Australia has commitments under the WTO on tariffs and tariff quotas, export subsidies, and
domestic support for agricultural products. Australia benefits from the most-favored-nation
and non‑discrimination provisions when engaging in international trade with other
member nations

Main Trading partners:

Regionally, Australia’s trade with Asia accounted for 66 % of Australia’s total trade, followed
by Europe, America, and Oceania (dominated by New Zealand).

Main Exports and Imports:

The top exports of Australia are Iron Ore , Coal Briquettes), Petroleum Gas , Gold, and
Aluminium Oxide

The top imports of Australia are Refined Petroleum, Cars, Crude Petroleum, Broadcasting
Equipment, and Delivery Trucks, importing mostly from China, United States, Japan ,
Germany , and Thailand.

Relation with World Bank:

The World Bank Group is Australia's largest multilateral development partner.

Australia also partners with the World Bank Group on specific development programs which
support Australia's aid policy priorities. On average, Australia co-finances $222m worth of
activities with the World Bank Group annually through these partnerships. Let’s just say their
partnership is untouchable.

Relation with the International Monetary Fund:

As part of a global response, Australia has committed to lend the IMF SDR4. 4 billion, if
required, under a multilateral borrowing arrangement, and has pledged a further SDR4. 6
billion under a bilateral arrangement

Relation with the world trade organization:

Australia is strongly committed to the WTO and its rules, which helps them promote and
protect the global trade system and their own. This allows them to have such an easy way to
trade.

BIBLIOGRAPHY:

World Trade Organization. (s. f.). Australian Government Department of Foreign Affairs and
Trade. Recuperado 8 de octubre de 2021, de
https://www.dfat.gov.au/trade/organisations/wto/Pages/the-world-trade-organization#:%7E:te
xt=The%20Australian%20Government%20is%20strongly,trade%20partners%20breach%20t
hese%20rules.

Australia and the. (s. f.). IMF. Recuperado 8 de octubre de 2021, de

https://www.imf.org/en/Countries/AUS

H. (s. f.). Australia (AUS) Exports, Imports, and Trade Partners | OEC. OEC - The
Observatory of Economic Complexity. Recuperado 8 de octubre de 2021, de
https://oec.world/en/profile/country/aus#:%7E:text=Exports%20The%20top%20exports%20
of,United%20Kingdom%20(%2410.6B).

Australia - A solid trade performance. (s. f.). Austrade. Recuperado 8 de octubre de 2021, de
https://www.austrade.gov.au/news/economic-analysis/australia-a-solid-trade-performance

House, C. P. A. (2017, 11 mayo). The current state of trade policies in Australia. Current
State of Trade Policies Aus.
https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Librar
y/pubs/BriefingBook45p/TradeAgreements