22 2.3 Impacts of Australia''''s Trade Policy on trade relations with countries: Japan and China .... 53 CONCLUSION...55 Trang 4 ABBREVIATION MEANINGS ACl-FTA Australia-Chile Free Trade A
FOREIGN TRADE UNIVERSITY HO CHI MINH CITY CAMPUS *** GROUP ESSAY TOPIC: ANALYSIS ON TRADE POLICY IN AUSTRALIA GROUP Team member Student ID Lê Nguyên Ngọc Nhi 2015535420 Lê Phạm Nhật Vy 2015536139 Ngô Võ Ánh Minh 2015536129 Ngô Yến Nhi 2015536134 Nguyễn Chí Hiếu 2015535167 Lecturer: PhD Tran Nguyen Chat TABLE OF CONTENT LIST OF ABBREVIATIONS .4 LIST OF FIGURES INTRODUCTION CHAPTER 1: OVERVIEW .10 1.1 Fundamentals of trade policy 10 1.2 Overview of Australia 10 1.2.1 Brief introduction to Australia 10 1.2.2 Culture of Australia 11 1.2.3 Legal and Political Factors in Australia 12 1.2.4 Economics of Australia 13 1.3 Diplomatic relations between Vietnam and Australia 16 CHAPTER 2: ANALYSIS 17 2.1 Trade Policy of Australia 17 2.1.1 Australian Import Policy 17 2.1.2 Australian Export Policy 20 2.2 Australia Trade Policy in comparisons with WTO regulations 22 2.2.1 Australia and WTO 22 2.2.2 Australia and its participation in WTO 22 2.3 Impacts of Australia's Trade Policy on trade relations with countries: Japan and China 23 2.3.1 Rationale for choosing China and Japan for analysis 23 2.3.2 Impacts on trade relations with China 24 2.3.3 Impacts on trade relations with Japan 27 2.4 Australia's Trade Policy affected by significant events 29 2.4.1 The Covid-19 Pandemic 29 2.4.2 The Brexit event 32 2.5 Impacts of Australia Trade Policy on trade relations with Vietnam 32 2.5.1 Historical overview 32 2.5.2 Complimentary Trade 33 2.5.3 Australia's Aid Program to Vietnam: 38 CHAPTER 3: FINDINGS 42 3.1 Opportunities and Challenges from trade policy for Australia 42 3.1.1 Potential advantages 42 3.1.2 Challenges 44 3.2 Development Trend of Trading Australia 45 3.2.1 Australia’s Exports Trend 45 3.2.2 Australia’s Imports Trend 48 3.2.2 Development Trend of Trading Australia in the future 51 3.3 Implications for Vietnamese government and enterprises: 53 3.3.1 For the government 53 3.3.2 For enterprises 53 CONCLUSION .55 INDEX OF REFERENCE 56 LIST OF ABBREVIATIONS ABBREVIATION MEANINGS ACl-FTA Australia-Chile Free Trade Agreements ANZCERTA Australia - New Zealand Free Trade Agreements APEC Asia-Pacific Economic Cooperation AUSFTA Australia - United States Free Trade Agreements Australia-UK FTA Australia-United Kingdom Free Trade Agreement ChAFTA China - Australia Free Trade Agreements CSIRO Australia’s Centre for Disease Preparedness and the Indo-Pacific Centre for Health Security EU European Union FTAs Free Trade Agreements G20 Group of Twenty GDP Gross Domestic Product JAEPA Japan-Australia Economic Partnership Agreement MAFTA Malaysia - Australia Free trade agreements PAPI Provincial Governance and Public Administration Performance Index SAFTA Singapore-Australia Free Trade Agreements TAFTA Thailand - Australia Agreements The UK The United Kingdom VAC Vietnam-Australia Center Free Trade LIST OF FIGURES Figure Australia GDP growth rate (2000-2020), (US Dollar Thousand) 14 Figure Australia Export Value (2002-2021, (US Dollar Thousand) 15 Figure Top 10 Export market of Australia in 2021, (US Dollar Thousand) 15 Figure Vietnam’s Import Value from Australia ( 2012-2021), (US Dollar thousand) 17 Figure Australia’s export Value to China (2014-2021), (US Dollar thousand) 25 Figure Australia's imports from China Value (2014-2021), (US Dollar thousand) 26 Figure Australia's imports from China Value (2014-2021), (US Dollar thousand) 28 Figure Australia's import value from Japan (2014-2021), (US Dollar thousand) 29 Figure Australia’s Trade Balance from 2018 to 2020 30 Figure 10 Australia Trade Surplus during COVID-19 31 Figure 11 Top 10 Product Labels Australia’s Imports from Vietnam in 2020 34 Figure 12 Top 10 Product Labels Vietnam’s Imports from Australia in 2020 35 Figure 13 Australian Investment in Vietnam by sector 36 Figure 14 Values of Australian Exports 46 Figure 15 Australia Top 15 Exports 47 Figure 16 Values of Australian Imports 49 Figure 17 Potential Import Sector of Australia 50 Figure 18 Potential Australia’s Import Markets 51 Document continues below Discover more from: International trade policy Trường Đại học… 381 documents Go to course 28 ANALYSIS OF VIETNAM'S… International trade policy 100% (4) ĐỀ CƯƠNG KINH TẾ 19 Chính TRỊ International trade policy 100% (4) 04.07.2021 Final Test TMAE302 International trade policy 100% (2) Package (Mỹ sửa lại theo ý Mỹ, bài gốc củ… International trade policy 100% (2) Cstmqt International trade policy 100% (2) 49 INTRODUCTION Hợp đồng ngoại thương mẫu: Hợp… International trade policy 100% (2) The rationale of the research Since the establishment of diplomatic relations in 1973, bilateral relations between Australia and Vietnam have grown dramatically The bilateral relationship between Australia and Vietnam was elevated to a strategic partnership in 2017 Prime Minister Nguyen Xuan Phuc and Prime Minister Malcolm Turnbull signed a Joint Statement on the Establishment of a Strategic Partnership between Australia and Vietnam in Canberra on March 15, 2018 In terms of trade agreements, Australia and Vietnam share other instruments for cooperation The Australia–Vietnam strategic partnership signed in 2018 heavily focuses on economic cooperation Vietnam's government needs to have a look at Australia’s trade policy and then make implications for encouraging trading activities with Australia When it comes to the impacts of the Australian trade policy framework on Vietnam’s economy, it is essential to point out the “Analysis on trade policies in Australia” Literature review 2.1 Foreign literature review 2.1.1 Martyn Taylor (2021): International Trade in Goods and Services in Australia: Overview The paper describes the recent trends affecting the regulation of international trade, trade agreements, trade negotiations, supply of services, Last but not least, this research points out some of the foreign trade barriers and impending developments or proposals for reform affecting international trade in goods and services 2.1.2 RMIT’s Australian APEC Study Centre and Asia Society Australia (2021): Australia and Vietnam ‘perfect partners’ for trade opportunities The study provides information on Vietnam's trading possibilities to Australian businesses While the report did not suggest that Vietnam would supplant China as Australia's primary Asian trading partner, it did find that the economies of the two countries were complementary, and that both countries were seeking to diversify their trading relationships in the face of a weakening global economy and rising geopolitical tensions Agriculture, mining and minerals, education and ICT services, and Industry 4.0 are all areas where Australian businesses may benefit, according to the research 2.2 Domestic literature review 2.2.1 Vietnam Chamber of Commerce and Industry VCCI (2019), Australia market opportunities for Vietnam from CPTPP and related FTAs The article pointed out the slow growth in goods trade between Vietnam and Australia compared to expectations The article also highlights future opportunities for trade between the two countries from the benefits of FTAs And also propose solutions for Vietnamese businesses to better take advantage of the benefits from trade agreements 2.2.2 Nguyen Tuy Lan (2016), Australian market research in relation to Vietnam The article has clarified the great opportunities of Vietnam for the Australian market and also highlighted the difficulties that Vietnamese businesses have to face The article is an important reference to evaluate the Australian market for businesses even though the article was written in the pre-Covid context The objective of the research The objective of this study is to understand, analyze and comment on the trade policies that Australia is applying in relation to Vietnam and other large countries so that we can observe the development trend, and innovation of trade policies in the context of internationalization The article also aims to highlight the highlights of the bilateral relationship between Australia and Vietnam so that readers can understand the importance of Australia in the integration and trade process of Vietnam The scope of the research In terms of time: from the date Vietnam and Australia established diplomatic relations (1973 to the present) In terms of space: the research concentrates on the use of data on Vietnam’s and Australia's export and import activities In terms of content: there are many factors that Australia’s trade policy creates an impact on the export of Vietnam’s trading activities to the Australian market Contribution and significance of the research The paper analyze the remarkable points of Australia's international trade policy and its impacts on Vietnam and many other countries The study can be consulted by organizations wishing to business with Australia The study also draws comments from researchers' observations about the development trend of Australia's trade policies in the context of deep globalization around the world Structure of research Introduction Main body Chapter 1: Overview Chapter 2: Analysis Chapter 3: Findings Conclusion Index of reference