Australia- UK Free Trade Agreement: A Commentary

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Australia- UK Free Trade Agreement: A Commentary

Popis výsledku v původním jazyce

Australia, like many other nations, has been pursuing Free Trade Agreements (FTAs) as a result of the staled WTO negotiations, post-Doha Australia currently has fifteen active FTAs, with another seven under negotiations, including the Australia-UK FTA – the focus of this paper. Following Brexit, the UK has been very keen to demonstrate to the rest of the world that, once the ‘shackles and burdens’ of the EU were removed, it could forge ahead as ‘Global Britain’, making its presence in the world predominant once again. This appears to be a nostalgic appeal to the old days of the bygone empire, one that no longer exists. Despite some set-backs, it seems that Australia and the UK will enter into an FTA in the near future, once the advanced-stage negotiations have been completed. This will be the UK’s first, and so far, the only post Brexit FTA. Given the considerable historical, legal, political and cultural ties between Australia and the UK an FTA between these nations was probably always going to be a comparatively easy accomplishment. Whilst the overall ties are no doubt important, the Australia-UK economic activity is far less important now than it has been since the days of early colonization. Australia is economically tied to Asia, with only a relatively small proportion of economic activity remaining with the UK. The composition of exports from Australia to the UK matches the comparative advantage theory as both nations have little, if any, overlap in goods they export/import to each other. This paper provides a background to the Australia-UK economic ties with a commentary on the likely impact the Australia-UK may have from the Australian perspective, highlighting areas of concern and making suggestions for improving the negotiations towards a final outcome.

Název v anglickém jazyce

Australia- UK Free Trade Agreement: A Commentary

Popis výsledku anglicky

Australia, like many other nations, has been pursuing Free Trade Agreements (FTAs) as a result of the staled WTO negotiations, post-Doha Australia currently has fifteen active FTAs, with another seven under negotiations, including the Australia-UK FTA – the focus of this paper. Following Brexit, the UK has been very keen to demonstrate to the rest of the world that, once the ‘shackles and burdens’ of the EU were removed, it could forge ahead as ‘Global Britain’, making its presence in the world predominant once again. This appears to be a nostalgic appeal to the old days of the bygone empire, one that no longer exists. Despite some set-backs, it seems that Australia and the UK will enter into an FTA in the near future, once the advanced-stage negotiations have been completed. This will be the UK’s first, and so far, the only post Brexit FTA. Given the considerable historical, legal, political and cultural ties between Australia and the UK an FTA between these nations was probably always going to be a comparatively easy accomplishment. Whilst the overall ties are no doubt important, the Australia-UK economic activity is far less important now than it has been since the days of early colonization. Australia is economically tied to Asia, with only a relatively small proportion of economic activity remaining with the UK. The composition of exports from Australia to the UK matches the comparative advantage theory as both nations have little, if any, overlap in goods they export/import to each other. This paper provides a background to the Australia-UK economic ties with a commentary on the likely impact the Australia-UK may have from the Australian perspective, highlighting areas of concern and making suggestions for improving the negotiations towards a final outcome.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 15th International Scientific Conference INPROFORUM New trends and challenges in the management of organisations

ISBN

978-80-7394-863-4

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

206-212

Název nakladatele

Jihočeská univerzita v Českých Budějovicích

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

4. 11. 2021

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000835761600033