Essay on Australia: World Trade Organization and World Bank Group

Submitted By torisamsxo
Words: 680
Pages: 3
Open Document
Part Five:
International Trade Agreements

National Holidays: (not common with Canada)
Date1
Holiday1
Monday, January 28th
Australia Day
Monday, March 10th
Canberra Day
Friday, April 25th
Anzac Day
Monday, September 29th
Community Day
Monday, June 9th
Queen’s Birthday
Monday, August 5th
Picnic Day
Australia shares many holidays in common with Canada-like Christmas, Easter, New Years, Labour Day (falls in October.)
There are a few international organizations that Australia is involved in as a country. Australia is involved in Australian National Commission for UNESCO2. It’s the department of Foreign Affairs and Trade page for the Australian National Commission for UNESCO. The national commission provides expert analysis and policy advice to the Australian Government on UNESCO matters and acts as a point of liaison between governments, the community and UNESCO in Australia.2 It was established in 1946 as a specialized agency of the United Nations. Australia is honoured to have been elected by the nations of the world to serve on the UNSC (United Nations Security Council) in 2013 and 20143. It is of great importance to the maintenance of international peace and security now than it has ever been.
World Trade Organization: Australia has been a member of the World Trade Organization (WTO) since January 1st, 19954.
World Economic Forum: In the late 1990’s the foundation, along with the G7, World Banks, WTO, and International Monetary Fund, came under heavy criticism by anti-globalization activists who claimed that capitalism and globalization were increasing poverty and destroying the environment. 10, 000 demonstrators disrupted the World Economic Forum in Melbourne, Australia, obstructing the passage of 200 delegates to the meeting 5.
Organization for Economic Cooperation and Development: Australia joined the OECD in 1971. Australia decided to become a full member because we recognized the importance of exchanging views and exerting influence in an organization which had established itself as the paramount western, economic consultative forum6.
World Bank Group: With its simple and clear mission-to fight poverty-the World Bank Group is Australia’s largest multilateral development partner. Australia’s funding to the World Bank Group has increased fivefold since 2005. In 2011-2012 Australia provided $678 million AUD to the World Bank Group’s programs to fight poverty and boost prosperity7.
International Monetary Fund: Almost 100 countries are involved with the International Monetary Fund, including Australia, who first joined on August 5th, 19478.
Other Trade Agreements/Organizations:
APEC: Australia is a founding member of the APEC (Asia-Pacific Economic Cooperation) forum was establish in 1989. Its primary purpose is to facilitate economic growth and prosperity in the region, with the vision of creating a seamless regional economy9; through trade, and economic and technical cooperation.
NAFTA: The NAFTA (North American Free Trade Agreement) has a trade agreement among Canada, The United States, and Mexico. (Went into
Show More

Related Documents: Essay on Australia: World Trade Organization and World Bank Group

Essay about The Australian Economy

Cuenca Introduction to Business 10/8/2012 Introduction Australia is a nation in which not many of us take into consideration for any reason whatsoever. The only thing I recognized this nation is for having kangaroos. Even when it comes to tourism we think of traveling within the United States, or parts of Europe, or Japan. Well I say Australia should be a nation to consider looking at. There are economic reasons for which I state Australia is a country to take a further look into. There is a big…

Words 1529 - Pages 7

Analysis Of The Globalization Of Business

environment in Australia and New Zealand in the past 30 years. After that, the author focus on the global perspective area, he thinks that under the globalization, manager must to consider learning additional languages because companies in a globalized business world increasingly need personnel with technical or professional skills plus another language. Apart from that, the author also mentions that Parochialism is a significant obstacle for a manager working in a global business world and the three…

Words 864 - Pages 4

Free Trade Aids Economic Growth Essay

the world have boosts and depressions in their economy at certain periods of times. America was the fastest growing nation in the world until its economy had a moderate drop in growth and was unable to compete with the other developing countries. Presently, the growth of the American economy is much less compared to a few years ago. America should establish more free trade agreements with foreign countries to help boost our economic growth, creates jobs, and sustain the growth of third world countries…

Words 1322 - Pages 6

Essay about International marketing management

Investment / industry According to the World Bank, Foreign Direct Investment are the net inflows of investments to buy a continuing management interest (10 per cent or more of voting stock) in an enterprise operating in an economy other than that of the investor. In South Korea, FDI accounted for 0.94% of GDP in 2013 and has considerably fluctuated since 2003 as the bar chart below illustrates. In addition, as stated by the Central Intelligence Agency (The World Fact book), gross fixed investment as…

Words 2970 - Pages 12

BFF5050 Essay

Executive summary Westpac as the oldest financial institution in Australia operate their business widely. The company expands their core markets of Australia, New Zealand and Pacific around them, where provide a wide range of products and services that meet the needs of customers. Until now, the number of customer members arrived at 12 million customers. It is clear that Westpac would increase the position in financial market. Table of Content Executive summary 1 1. History 3 1.1 Acquisitions and…

Words 4796 - Pages 20

Mali's Developmental Struggles In West Africa

natural resources, these resources have never been exploited and Mali continues to have a poor economy and a trade deficit. Organizations like the International Monetary Fund, the United Nations and the World Bank have tried to reduce the extreme poverty in Mali, but corruption in the nation is a serious obstacle for these agencies. Mali remains one of the most underdeveloped countries in the world. Mali is moderately large for an African Nation, stretching over 1.2 million square feet. The climate…

Words 2077 - Pages 9

Essay about Hsc Course Summary Topic 1

James Banks – Economics Summary Summaries Topic 1 – The Global Economy Students Learn About: International economic integration • The global economy o Situation where the economies of individual countries are increasingly linked to each other and changes in a single economy can have ripple effects on each other. • Gross World Product o Aggregate value of goods and services produced per annum worldwide (PPP) o Approximately $70 trillion US PPP…

Words 2003 - Pages 9

E*Trade Group Inc - All Matrix Analysis Essay

Overview of E*Trade 2. History 3. Stocks 4. Stock Information 5. Goals and Objectives 6. The Two Divisions a. Banking b. Brokerage 7. Their Mission and Vision Statement 8. New Mission and Vision Statement 9. External Opportunities and Threats a. EFE 10. Internal Strengths and Weaknesses a. IFE b. CPM 11. Analysis a. SWOT Matrix 12. Key Ratios 13. Different Strategies 14. Decisions 15. Implementation 16. Evaluation 17. References OVERVIEW OF E*TRADE E*Trade Financial Corp…

Words 2075 - Pages 9

Refer To The Article: US Growth Expected Slow Amid Looming Stagflation

the financial crisis of 2008, many economists believe that it is the most serious financial crisis since the Great Depression of the nineteen thirties. It threatened to large financial institutions to complete collapse, the bank bailout by the national government, and in the world of stock market decline. In many areas, the housing market also suffered, in the eviction process, foreclosures and long-term unemployment. The crisis has played an important role, failure of the key business, consumer wealth…

Words 4707 - Pages 19

Reflection On The Doha Round Essay examples

that regional or global trade activities take precedence over local or national activities. In fact, a very visible result of globalization is the formation of an international trade regime, which requires rules of trade among nations. The global organization dealing with such trade rules, as we know, is the World Trade Organization (WTO). In 2001, at WTO’s Fourth Ministerial Conference in Doha, Qatar started the latest round of trade negotiations to further global trade among the WTO member nations…

Words 3140 - Pages 13