Both Australia and Singapore share a significant trade relationship. Both countries import and export various goods which helps develop both nations in the past and future. Both countries have enhanced economic growth towards one another. In this discussion I will explain the positives and negatives relating trade with Singapore. The main topics I will address is the fairness of Australian exports compared to Singapore's exports, the importance of SAFTA, and lastly the profit comparrison by both Australia and Singapore. I will also include if these issues are fair or disadvantaged towards one of these countries.
Australia and Singapore share a significant trading bond which has benefited with both countries sending appropiate merchandise. Both Australia and Singapore send similar merchandise but what I find unfair about merchandise trading with these two countries is the quantity of merchandise Australia is sending compared to Singapore. Australia sends 6.2% of it's exports to Singapore. Singapore sends 6.8% of it's merchandise to Australia. This means that Singapore is sending more products to Australia and this means Singapore is spending an increasingly higher amount of money on Australia. Australia in the future should pay more respect to Singapore by sending them a more variety of merchandise. This will make the bonding between Australia and Singapore stronger.
The second point I will explain with the two corresponding countries is the SAFTA agreement. The SAFTA is the Singapore, Australia free trade agreement. This agreement was formed on the 23rd of July 2003 and since that day various exports and imports have taken place which has developed economical growth. The main benefit with the free trade agreement between Australia and Singapore is, for instance Australia might be lacking a certain product so they will ask Singapore for more of that item. Singapore can also ask for a particular product and Australia will send the required merchandise to Singapore. Both of these countries share a great bond and it's vital that both of these countries expand trading with more countries to receive extra imports and exports.
My final discussing point is the profit comparrison between both Singapore and Australia. A particular negative with this point is that Australia spends less money in sending products to Singapore. I find this highly poor because Singapore is a smaller country and they are sending more merchandise to Australia. I think Australia should spend more of their time sending more products to Singapore to make SAFTA a stronger trade relationship. To brighten this point, the spending comparrison may be due to the fact that Australia has a significant amount of trading partners compared to Singapore. This means Australia will have to evenly spread out their products.
To sum everything up the trading agreement between Australia and Singapore is vital for economic growth. Various imports and exports are distributed between the countries which helps both countries. I don't think the SAFTA relationship is an unfair trade because various merchandise is sent as well as both countries making a considerable profit.
Australia and Singapore share a significant trading bond which has benefited with both countries sending appropiate merchandise. Both Australia and Singapore send similar merchandise but what I find unfair about merchandise trading with these two countries is the quantity of merchandise Australia is sending compared to Singapore. Australia sends 6.2% of it's exports to Singapore. Singapore sends 6.8% of it's merchandise to Australia. This means that Singapore is sending more products to Australia and this means Singapore is spending an increasingly higher amount of money on Australia. Australia in the future should pay more respect to Singapore by sending them a more variety of merchandise. This will make the bonding between Australia and Singapore stronger.
The second point I will explain with the two corresponding countries is the SAFTA agreement. The SAFTA is the Singapore, Australia free trade agreement. This agreement was formed on the 23rd of July 2003 and since that day various exports and imports have taken place which has developed economical growth. The main benefit with the free trade agreement between Australia and Singapore is, for instance Australia might be lacking a certain product so they will ask Singapore for more of that item. Singapore can also ask for a particular product and Australia will send the required merchandise to Singapore. Both of these countries share a great bond and it's vital that both of these countries expand trading with more countries to receive extra imports and exports.
My final discussing point is the profit comparrison between both Singapore and Australia. A particular negative with this point is that Australia spends less money in sending products to Singapore. I find this highly poor because Singapore is a smaller country and they are sending more merchandise to Australia. I think Australia should spend more of their time sending more products to Singapore to make SAFTA a stronger trade relationship. To brighten this point, the spending comparrison may be due to the fact that Australia has a significant amount of trading partners compared to Singapore. This means Australia will have to evenly spread out their products.
To sum everything up the trading agreement between Australia and Singapore is vital for economic growth. Various imports and exports are distributed between the countries which helps both countries. I don't think the SAFTA relationship is an unfair trade because various merchandise is sent as well as both countries making a considerable profit.