Australia’s economy has famously avoided recession for the last 25 years, navigating the global financial crisis more successfully than most. While economic conditions are now more challenging, strong cultural and institutional ties mean Australia remains an excellent place for British companies to do business.
Australia is a strong proponent of trade liberalisation. It has ten free trade agreements (FTAs) in place: with China, Japan, Korea, USA, New Zealand, Singapore, Thailand, Chile, Malaysia and the Association of South East Asian Nations (ASEAN). It is also pursuing agreements with the EU, India and Indonesia and is also one of the 12 members of the Trans-Pacific Partnership.
Trade and investment patterns between Australia remain strong and are growing. The UK is the 2nd largest foreign investor in Australia after the US, with stock worth almost A$500 billion.
Australia is the UK’s 15th biggest export market, ahead of Canada and Russia. The leading UK goods exports to Australia are motor vehicles, pharmaceuticals, machinery & equipment, scientific instruments, clothing and beverages. Services exports account for more than half of total exports to Australia and are led by travel and transportation, financial, and professional /other business services.
About the guides
The main objective of this Doing Business in Australia Guide is to provide you with basic knowledge about Australia; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural issues.
We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point.
This FREE guide is available in 4 formats:
Available on the iTunes App Store and Google play