Trade between Australia and US – Benefits for your business

 

FD Global Connections’ mission is to positively improve the 70% failure rate of companies expanding into the United States, a trusted trade and investment partner. Conducting US$77 billion in two-way trade and an investment relationship valued at US$1.6 trillion, the United States is Australia’s largest economic partner. Approximately a quarter of Australia’s inward foreign investment is from the United States (US$740 billion or AUD$1.09 trillion).

Many business leaders who contact FD Global Connections are unaware of the benefits of the Australia-United States Free Trade Agreement (AUSFTA).  Signed in 2005, FD Global Connections CEO Trena Blair participated in “The Alliance” docuseries recognising 15 years since the first “Free Trade Agreement” was established. Since AUSFTA, two-way trade has grown by 138%. Below are just some of the benefits businesses can leverage under the AUSFTA:

Over 97% of Australia’s non-agricultural exports to the United States (excluding textiles and clothing) are now duty-free, and three-quarters of agricultural tariff lines have been eliminated.

Australian companies have access to the federal government procurement market in the United States (valued at US$637 billion), and the government procurement markets of 31 US states.

The agreement opens up the Australian market to US investors while the US allows similar access to Australian investors.

AUSFTA provides legal certainty around commercial contracts which can help protect both parties involved if there are any disputes during negotiations or after an agreement has been reached.

Further details of how AUSFTA may benefit your business can be found here: AUSFTA Agreement

Contact FD Global Connections by emailing us at enquiry@fdglobal.com.au to discuss your US expansion plans.