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WTO and US FTA Benefits to Business

WTO and US FTA Benefits to Business. In the era of globalization:. Economic integration is more than free trade Free movement of capital may be more important than free trade We have just seen the beginning of the information age. The new importance of investment. investment.

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WTO and US FTA Benefits to Business

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  1. WTO and US FTA Benefits to Business

  2. In the era of globalization: • Economic integration is more than free trade • Free movement of capital may be more important than free trade • We have just seen the beginning of the information age

  3. The new importance of investment investment

  4. What WTO offers • Further opening of world food markets • Reduction of barriers in developing countries • Global liberalization of services • Global reduction of investment barriers

  5. Limits to WTO program • Partial liberalization • No certainty when it will finish- currently stalled

  6. What US FTA offers • Remove foreign investment barriers • Increased agricultural exports • More Secure access to US market • Increased total exports Can deliver complete accessCan be completed within 2 years

  7. US/Australian economic interests • Rising exports of manufactures • Importance of services • New importance of investment

  8. Australian exports – a new pattern

  9. Exports to the US (A$ mill)

  10. US - our healthiest market • Fastest export growth 1995-2000 • Best growing market for Manufactures • Largest market for services exports

  11. Two way investment

  12. Strategic benefit • Strengthen the relationship - new strategic uncertainties - new era of globalization - new competition for US interest from Latin America

  13. Dynamic benefits • More competitive Australian economy • Aligning economic reference points with the US – leader of the Information Age • Integration with global (mostly US) business models

  14. Bonlac Foods Ltd *Business Council of Australia Cargill Caterpillar CBA Ltd EDS Australia *Effem Foods *Esso Australia Pty Ltd *Holden’s *Mobil Oil Australia Pty Ltd IBM Kelloggs *Medicines Australia *Minerals Council of Australia *News Limited Proctor and Gamble *Southcorp *Telstra *Visy (Pratt Industries) *Westfield Holdings Western Mining Corporation Ltd *Alcoa AMCHAM *Australian Food & Grocery Council Australian Chamber of Commerce & Industry Australian Industry Group *Australian Dairy Corporation Australian Internet Association *Australian Meat Council *BHP Steel

  15. www.austa.net

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