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Australia
Australia's exports are dominated by agricultural and mineral commodities. Australia is the permanent chair of the Cairns Group which lobbies internationally for greater liberalisation of agricultural trade. 33% (2007) of trade between the EU and Australia is in services, especially transportation and travel, but also business services, financial services and computer services.
The EU is Australia's largest trading partner and a key export market. Trade between the two economies continues to grow steadily
Trade in goods
- EU exports to Australia 2008: €25.2bn
- EU imports from Australia 2008: €11.2bn
Australian exports to the EU are mainly agricultural products (notably wine), but also mineral and energy commodities (non-monetary gold, coal, iron), and machinery and transport material, chemical products, wool and textiles. EU products exported to Australia comprise mostly medicaments, motor vehicles, machinery, telecommunication equipment, and paperboard.
Trade in services
- EU services exports to Australia 2007 : €10.7bn
- EU services imports from Australia 2007: €6.2bn
Foreign direct investment
A 2006 survey of EU companies in Australia found that there were approximately 2300 EU companies with a presence in Australia, with a total estimated turnover of $A180bn or just over 12% of total sales in Australia. These companies directly created an estimated 40000 jobs in Australia. The EU is the second main destination for Australian overseas investments.
Agreements to facilitate trade
The EU and Australia are parties to a bilateral agreement that aims to facilitate trade in industrial products between the EU and Australia by reducing technical barriers, including assessment procedures. This covers mutual recognition of conformity assessment procedures, with the objective of reducing the costs of testing and certification of products exported to and imported from Australia. It is applies to medicinal devices, telecom terminal equipment, electrical safety, pharmaceutical GMP, machinery and pressure equipment, and motor vehicles.
Bilateral relations
Trade relations with key trading partners
Facts, figures, latest developments and archives.
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