International Trade between Australia and Japan - 579 Words

Economic growth is a steady growth in the productive capacity of the nation’s economy. Countries manage their natural resources, physical and human resources, technology and institutional framework to affect and control their outputs. Development in a country’s production never merely depends on domestic economic activities, but also on contact with other counties. With the growing interaction between buyers and sellers worldwide, communication and exchange of product and information has boosted economic growth ( Investopedia, 2014). This essay is an investigation and analysis of a international trade between Australia and Japan. It will explain the events and discuss impact on Australian economic growth. The article is about an international trade partnership set up by Australia and Japan. The aim of this partnership is to help stimulus the economic growth of two counties under the privileged import policy. On April 08, 2014, Tony Abbott completed a deal with Japanese Prime Minister, Shinzo Abe with the assurance that it would create employment for both counties (David, 2014). The two leaders both gave respective ground to allow cheaper imports, with a concession in budget revenue from tariffs in order to win consumers. The Japanese deal will substantially make Australia have free export of dairy, beef, wine, sugar, horticulture, and a range of services, while also making Japanese cars, cameras, televisions and other high-tech goods cheaper in Australia. Australia givesShow MoreRelatedEssay on Australias Trade637 Words   |  3 PagesAustralia has several ties with other countries. These ties are established in several ways, one of which is through trade. The nature of trade includes exporting and importing goods and services which form trade links with partner countries. Trade comes with its advantages and disadvantages. 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