Tennesseefree Trade Agreement
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Australian trade and investment relationsAustralia with: TENNESSEEFree Trade Agreement Tennessee Trades with Australia Australia Invests in Tennessee Australia is the 8th largest market for Tennessee goods Lend Lease Investment Management, part of Australia’s exports, worth over $827.8 million in 2011. Tennessee’s Lend Lease Group, is the largest developer of public- major exports to Australia include medical equipment, private defense housing in the US. Its US head office is drilling equipment, motor vehicle parts and aircraft parts. in Nashville. Boral USA, owned by Australia’s Boral Limited, is the Product Value ($) Percent US’s largest brick manufacturer and has a production Miscellaneous Manufactures 252,964,918 30.6 plant in Gleason. Machinery, except Electrical 194,805,403 23.5 Lend Lease Project Management & Construction has Computers & Electronic Products 91,323,849 11.0 an office in Nashville and has run a range of projects across Tennessee. Chemicals 75,299,243 9.1 Transportation Equipment 56,724,208 6.9 BlueScope Buildings North America, a subsidiary of Australia’s BlueScope Steel Limited, manufactures metal Beverage & Tobacco Products 32,475,458 3.9 building systems for commercial construction at a facility All Others 124,217,438 15.0 in Jackson. Varco Pruden Buildings, also a BlueScope TOTAL 827,810,517 100% subsidiary, is a world leader in the pre-engineered steel systems construction industry. Its headquarters are in Source: US Department of Commerce Memphis. PBR International USA, a subsidiary of Australia’s Pacifica Group, manufactures automotive brake system Did you know? components at a facility in Knoxville. More than 1 million Australians visited the United Pratt Industries USA, sister to Visy, Australia’s largest States in 2007 for vacation, personal, business and packaging and recycling company, has facilities in other reasons and spent $5 billion in the course of Humboldt, Memphis and Nashville. this travel. CSL Behring, a subsidiary of Australia’s CSL Limited and Australia is the sixth most popular study abroad one of the world’s leading plasma protein biotherapeutic destination among US students. companies, operates one of the world’s largest plasma testing laboratories in Knoxville. Australia: Strong economy, AUSFTA important trading partner The Australia-US Free Trade Agreement (FTA) came into Total trade between Australia and the United States force on 1 January 2005. The FTA gives US businesses was $60.8 billion in 2011, with US exports to Australia price advantages and preferential access over international amounting to $29 billion. Australia ranks in the top 10 competitors in the Australian market. The FTA eliminates export markets for 18 states. 99% of Australia’s manufacturing tariffs, giving US firms a 5% average cost advantage over their international Australia is among the most highly developed and competitors in the Australian market. Additionally the FTA: economically successful countries in the world with a gross domestic product (GDP) of approx. $1.5 trillion in Grants enhanced preferential access for American service 2011. exporters to Australia. Australia has one of the world’s most open and innovative Grants tariff-free access to Australia’s agricultural market economies. The OECD said in May 2012 that Australia’s for US exporters. economic fundamentals remain strong, and it forecast Removes foreign investment screening for a range of Australia’s economy to grow more strongly than every foreign investment activities, including establishment of single major advanced economy over the next two years. all new businesses in Australia. For more information: www.usa.embassy.gov.au DISCLAIMER: The information available in this document is intended as a general reference and is available from public resources. Every effort has been made to present Government of Australia all information accurately at the time of publication (September 2012), however no liability is accepted for any inclusions or for omissions from the publication. .