U.S. CHAMBER OF COMMERCE. International Affairs

Transcription

1 International Affairs U.S. CHAMBER OF COMMERCE

2 The U.S. Chamber of Commerce is the world s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

3 objectives by increasing the regularity with which it hosts visiting Australian government members changing needs and priorities. issues, and expands its advocacy network in Australia. The Working Group responds to Like the Chamber s other working groups, the Australia Working Group pursues these officials, increases advocacy with the U.S. administration and Congress on Australia-related efforts across the Asia-Pacific region. Enhance U.S.-Australia business community cooperation in its trade promotion trade barriers that impede trade and investment. Working Group undertakes advocacy efforts to resolve specific regulatory or Create a trade and investment policy dialogue between the two countries. The bilateral meetings and briefings. Promote the relationship through regular events, including high-level the following objectives: The U.S. Chamber of Commerce Australia Working Group was established to accomplish WORKING GROUP OBJECTIVES Department of Foreign Affairs and Trade). Overall, the United States was Australia s 3rd largest trading partner in 211 (Australian Australia s services trade with the United States is higher than that with any other country. The United States remained Australia s largest investment partner in 211. In addition, services and foreign direct investment have continued to expand. More than 99% of U.S. largest supplier of U.S. imports with more than $1 billion in goods (USTR Trade Facts). U.S.-Australia Free Trade Agreement went into force on January 1,25, trade in goods and exports of consumer and industrial goods are now duty free. Australia was the United States 14th largest goods export market in 211 with more than $27 billion in goods and the 33rd Australia and the United States are longtime friends and trading partners. Since the ABOUT THE WORKING GROUP

4 TOP 1 U.S. EXPORTS TO AUSTRALIA $ Ce C Cl) D C w I cp c,.r o.k,.,s INDUSTRY SECTOR Source: United States International Trade Commission Dataweb SHARE OF TOTAL FOREIGN INVESTMENT IN AUSTRALIA Other EU 8% New Zealand 2% Source: ABS Cat. No.5352., 211

5 TOP 1 U.S. IMPORTS FROM AUSTRALIA $ C 1.2 U) 1. Cl) hi jiw INDUSTRY SECTOR Source: United States International Trade Commission Dataweb $7 U.S. TRADE WITH AUSTRALIA (US $BILLIONS) itiii ii U.S. exports of goods arid services U.S. imports of goods and services Source: U.S. Bureau of Economic Analysis 3

6 Australian Investment in the United States. companies and mining sectors. Australia, while it imported $6.3 billion. In 211, the U.S.-Australia investment relationship was worth almost $1 trillion as the o U.S. direct investment in Australia is led by finance and insurance nonbank holding o Trade in goods was $37.8 billion. The United States exported $27.5 billion in goods, while it imported $1.2 billion. Australia was the 14th largest U.S. export market in 211. o Trade in services was $22.4 billion. The United States exported $16.1 billion worth of commercial services to U.S. goods and services trade with Australia totaled $6 billion in 211. U.S.-Australia Investment U.S.-Australia Trade the United States United States invested $57 billion in Australia, while Australia invested $42 billion in $ Australia 1 U.S. Investment in 4 (US $Billions) - U.S.-Australia Investment Relationship U.S. exports of private commercial services to Australia are up 19% from pre-fta levels. hdtotal Investment Source: Austrahan Department of Foreign Affairs and Trade Source: USTR Trade Facts

7 U.S. CHAMBER OF COMMERCE International Affairs 1615 H Street, NW Washington, DC 262 www. uschamber.com