Region:
Asia
Category:
Economy

Keys in the relationship between Australia and Asian countries

Region:
Asia
Category:
Economy
Publication date:
Print article

The Australian economy continues emphasizing in front of other advanced economies. Australia has a solid growth, a low rate of unemployment, controlled inflation, low public debt and a strong and stable financial system

Asia’s growth presents significant opportunities for the strong and continuous commitment of Australia in this dynamic region. Australia has developed human bonds all around Asia, encouraged by the high number of Asian population that has, and its wide academic and business knowledge about culture, history and Asian geography.

Such human bonds include the fact that:

• Australia houses approximately two million Asian-born people.

• Between two and three million Australians visit Asia every year.

• In 2011, near three quarter of international students in higher education in Australia were born in Asia.

Strong economic growth in Asia continues taking hundreds of millions of people out of poverty. It is believed that the Asian middle class will ever be greater than the total of the rest of the world.

Australia is well positioned to contribute to and benefit from this transformation marked.

Australian natural resources, high quality food production, international services, such as education and quality financial services, and new technologies continue to help this transformation.

Australia is already one of the economies most oriented to Asia. Today China, Japan, Republic of Korea, India and our ASEAN neighbors, the Association of Southeast Asian Nations, acquire about three quarters of our exports of goods.

Diplomacy has been focused on Asia for six decades. Australia has been at the forefront in the creation of regional institutions, from the Forum of Asia Pacific Economic Cooperation (APEC) at the ASEAN Regional Forum and, more recently, the expansion of the EAS.

The strong Australian network of close relationships with Asian countries and their active participation in the major institutions of Asia and APEC, EAS and the Asian Development Bank also become a vital participant to meet the challenges arising from the changes occurring in the region.