Essay on Australia: World Trade Organization and World Bank Group

Submitted By torisamsxo
Words: 680
Pages: 3

Part Five:
International Trade Agreements

National Holidays: (not common with Canada)
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