Australia’s economy has famously avoided recession for the last 25 years, navigating the global financial crisis more successfully than most. While economic conditions are now more challenging, strong cultural and institutional ties mean Australia remains an excellent place for British companies to do business.
Australia is a strong proponent of trade liberalisation. It has ten free trade agreements (FTAs) in place: with China, Japan, Korea, USA, New Zealand, Singapore, Thailand, Chile, Malaysia and the Association of South East Asian Nations (ASEAN). It is also pursuing agreements with the EU, India and Indonesia and is also one of the 12 members of the Trans-Pacific Partnership.
Trade and investment patterns between Australia remain strong and are growing. The UK is the 2nd largest foreign investor in Australia after the US, with stock worth almost A$500 billion.
