Study on International trade between Saudi Arabia and Australia

A report submitted to the faculty of Business Administration in part fulfillment of requirement of final examination in Global Trade

Prepared and submitted by-(Matrix)

Name- Khan, Md. SaquibID 07-07642-1Name Haq, Faria TaskinID 07-08213-1Name Ohidullah, MDID 07-07679-1

Course Instructor: Chowdhury, Ahmed Reyad

American International University-Bangladesh

A I U B

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April 27, 2009

To

Mr. Chowdhury, Ahmed ReyadCourse InstructorAmerican International University – BangladeshBanani, Dhaka

Subject: Letter of Transmittal

Dear Sir,

Attached please find the Group Project Report on ``International trade between Saudi Arabia and Australia’’ that you have assigned us to prepare. We the group members have accumulated workable secondary data from the internet and books. We have coiled those data furnished through this report. It will be still a unique scope for us to learn more about the subject by clarifying any observations if you have arising from the paper.

We are grateful to you for your continuous guidance in preparing the Group Project Report.

Sincerely yours,

KHAN, MD.SAQUIB OHIDULLAH MD

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HAQ, FARIA. TASKIN

SUMMARY

Saudi Arabia is a country with population of 27,600 000(2 crore 76 lack) of which 70 lack people are foreign workers. The country heavily relies on petroleum exports. Large oil earnings, particularly since the oil price rises of the early 1970’s, have allowed the Government to spend heavily to look after the people and to build the infrastructure of a modern economy. The economy is heavily dependent on oil earnings and the high level of Government spending they make possible: a large and varied private sector has grown up but remains vulnerable to fluctuations in the oil price and government spending. In the 1980’s and 1990’s economic growth was barely fast enough to keep up with population growth, but very high oil prices in 2003-5 have made possible a strong spurt in growth. Australia on the other hand has 20.7 million (2 crore 7 lack) of which 99% of the population are of European or Asian descent. Australia has a largely affluent society and open and innovative economy, resulting in growing foreign investment over the past decade. Australia continues to be a strong advocate of increased trade liberalisation in the World Trade Organisation and plays an active role in global trade talks. Japan remains Australia’s largest export market, followed by China, the United States, the Republic of Korea and New Zealand. Strong political, economic and cultural links to the UK make Australia a more significant market for UK exports than its comparatively small population might suggest. The statistics of 2007 to 2008 shows that Australia exported passenger motor vehicles, barley, cheese and Live animals to Saudi Arabia. Saudi Arabia exported Crude petroleum, liquefied propane and butane, fertilisers and refined petroleum to Australia.

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TABLE OF CONTENTS:

1. Introduction2. Country Profile: Saudi Arabia3. Country Profile: Australia4. International trade between Saudi

Arabia and Australia5. Trade rules and regulations: Saudi

Arabia6. Trade rules and regulations: Australia7. Trade Agreements8. Comparative study regarding trade

activities9. Conclusion10. Bibliography

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1.0 Introduction

Today global business is changing rapidly. Countries which long been closed to the world is now beginning to open doors. They started to believe that global trade will help these countries to grow and become rich. In this report we will look at two of the of the very rare countries in terms of geographical locations, culture and people who are involving in a trade relationship. Australia is a country with powerful economic background and Saudi Arabia on the other hand is a country of rich oil resources and a new member of WTO. These two countries are rich with resources and they have huge opportunities to trade. But the cultural differences create an obstacle to relationship. Will Australia be able to coup with challenge? Will their relations long last?

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2.0 Country Profile: Saudi Arabia

Area: 2.25 million square kilometresPopulation: 27,600 000 (2007 est.)Capital City: RiyadhPeople: Arabs, 7 million of the total population are foreign workersLanguages: Arabic is the official language (English is widely spoken in business circles)Religion: Islam; the public practise of any other religion is forbidden. About 90% of the Muslim population is Sunni and 10% Shia.Currency: Saudi Riyal (SR)Major political parties: Political parties are not permittedGovernment: MonarchyHead of State: King Abdullah bin Abdul Aziz Al Saud, Custodian of the Two Holy MosquesFirst Deputy Prime Minister: His Royal Highness Prince Sultan bin Abdul Aziz Al SaudPrime Minister/Premier: King Abdullah bin Abdul Aziz Al Saud, Custodian of the Two Holy MosquesForeign Minister: His Royal Highness Prince Saud al Faisal bin Abdul AzizMembership of international groups/organisations: World Trade Organisation, Arab League, Gulf Co-operation Council, Organisation of Islamic Countries and United Nations and Organisation of Petroleum Exporting CountriesFlag: The flag of Saudi Arabia bears the Muslim creed: 'There is no God but God: Muhammad is the Messenger of God.' The official emblem is a date palm, representing vitality and growth, and two crossed swords, symbolising justice and strength rooted in faith.

HEALTH/TRAVELSome parts of Saudi Arabia, most notably the South Western region of Jizan, are potentially malarial. Precautions should be taken when visiting this area. The Foreign and Commonwealth Office recommends visitors have immunisations for polio, hepatitis and tetanus before visiting Saudi Arabia.

Hajj and UmrahDuring the period of Hajj and Umrah, pilgrims are required by the Government of Saudi Arabia to have a valid certificate of vaccination against the ACWY strains of meningitis. This is a visa requirement.

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Visitors may be refused entry if they do not have a valid certificate showing that they have received this quadrivalent meningitis vaccination.

Saudi CultureIslamic principles and social customs are strictly observed in Saudi Arabia and influence all aspects of life and society. Saudi Arabia adheres to the Islamic sharia legal system.

The Saudi working week is from Saturday to Wednesday. Thursday and Friday are the 'weekend'.

Economy:Saudi Arabia has the largest proven oil reserves in the world and is by a long way the largest exporter of oil. Oil was discovered in 1938, and production began under the then US-controlled Aramco (Arabian American Oil Company). Saudi Aramco, now nationalised, controls all onshore oil and has the largest reserve base of any company in the Exporting Countries (OPEC); It has always been the dominant player within OPEC in adjusting production in line with market stability.

Large oil earnings, particularly since the oil price rises of the early 1970’s, have allowed the Government to spend heavily to look after the people and to build the infrastructure of a modern economy. The economy is heavily dependent on oil earnings and the high level of Government spending they make possible: a large and varied private sector has grown up but remains vulnerable to fluctuations in the oil price and government spending. In the 1980’s and 1990’s economic growth was barely fast enough to keep up with population growth, but very high oil prices in 2003-5 have made possible a strong spurt in growth.

Saudi Arabia has long had a very liberal policy on the use of foreign workers, who form the vast bulk of the private sector workforce. But the Saudi population is rapidly increasing and policy is now focusing on the need to create more jobs for young Saudis.

Economic reform continues: moves in recent years include opening some previously closed sectors of the economy, such as the gas industry, to investment by foreign companies. Upstream oil remains closed to foreign investment. Saudi Arabia has applied to join the World Trade Organisation and is in the process of negotiating the terms of its entrance.

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Basic Economic Facts Proven oil reserves (end-2004): 262.7bn barrels Proven oil reserves as share of world total: 25% Oil production (2004): 10.6mbd Oil production as share of world total (2004): 13.1% GDP (2006): US$371.5bn Population including expatriates (2007): 27.6 million GDP per head (2006): US$13,658 Annual growth rate in real GDP (2006): 4.3% (Oil 0.2%, non-oil

6.3%) Major sectors: Oil, petrochemicals, financial services, construction Major destinations for Saudi exports: USA, Japan, Korea, China and

EU Major exporters to Saudi Arabia: USA, Japan, Germany, China and

UK Exchange Rate (average 2006): £1=7.48 Saudi Riyals (US$1=3.75

Saudi Riyals) Money: The Saudi Riyal (SR) is divided into 100 halalas. Notes

come in denominations of SR1, 5, 10, 20, 50, 100, 200 and 500. Coins come in denominations of 5,10, 25 and 50 halala

(Source: www.fco.gov.uk )

3.0 Country Profile: Australia

Area: 7,682m sq kmPopulation: 20.7 millionCapital city: CanberraPeople: 99% of the population are of European or Asian descentLanguages: Mainly English with some other European, indigenous and Asian languagesReligion(s): Predominantly Christian with Buddhist, Jewish and MuslimCurrency: Australian Dollar (A$)Major political parties: There are seven registered parties. They are the: Australian Labor Party (ALP), Liberal Party, National Party, Green Party, One Nation, Australian Democrats, and Family First.Government: The Australian Constitution of 1901 established a federal system of government. Under this system, powers are distributed between a federal government (the Commonwealth) and the six States (three Territories - the Australian Capital Territory, the Northern Territory, and Norfolk Island have self-government arrangements). The Parliament is at

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the very heart of the Commonwealth government. The Parliament consists of The Queen (represented by the Governor-General) and two Houses, the Senate and the House of Representatives. These three elements make Australia a constitutional monarchy, a federation and a parliamentary democracy.Head of State: Her Majesty, Queen Elizabeth IIGovernor-General: HE Ms Quentin Bryce AC became the 25th Governor General on 5th September 2008.Prime Minister: The Hon Kevin Rudd MP (Leader Australian Labor Party)Foreign Minister : The Hon Stephen Smith MPMembership of international groups/organisations: The United Nations (UN), the Commonwealth, the World Trade Organisation (WTO), the Asia Pacific Economic Co-operation (APEC), Organisation for Economic Cooperation and Development (OECD), the Association of Southeast Asian Nations (ASEAN) Regional Forum (ARF), United Nations Educational, Scientific and Cultural Organisation (UNESCO), Pacific Islands Forum (PIF), Pacific Community (SPC), South Pacific Regional Environment Programme (SPREP).

Economy:

Almost two decades of continuous economic growth, a low unemployment rate and a strong banking system which is the result of a series of structural and policy reforms have all left Australia better placed in the face of a global economic downturn than many other developed nations. Growth has slowed considerably since the middle of 2008, and eagerly anticipated economic indicators will soon tell whether Australia will be able to avoid recession in 2009.

The current crisis has led the Government to introduce a series of stimulatory measures and the Reserve Bank to make repeated cuts in the official interest rate, encouraging first home buyers to take some pressure off the rental market. The Government's economic strategy has centred on providing financial assistance to lower-income families and individuals, designed to take some of the burden away from the most vulnerable.

The economy however continues to benefit from demand for resource and minerals, and it is generally accepted that China’s continued growth - albeit slower than previously thought - holds the key to Australia’s recovery on the other end of the current crisis. Until then, a substantial rise in unemployment is predicted for 2009, a year which, the Government has said, is expected to be difficult.

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Trade

Australia has a largely affluent society and open and innovative economy, resulting in growing foreign investment over the past decade. Australia continues to be a strong advocate of increased trade liberalisation in the World Trade Organisation and plays an active role in global trade talks. Japan remains Australia’s largest export market, followed by China, the United States, the Republic of Korea and New Zealand. Strong political, economic and cultural links to the UK make Australia a more significant market for UK exports than its comparatively small population might suggest. In 2007-08, the UK was Australia's sixth largest merchandise trading partner and seventh largest source of merchandise imports. Today the UK remains Australia’s top European Union trading partner.

The UK sells more to Australia than to India or China, and Australia is the UK’s 5th largest market for goods outside the EU. Agriculture, Mining, Oil and Gas, Information and Communication Technology, Biotechnology, Creative and Media, Marine, Railways, Food and Drink, Recreation and Leisure, and Aerospace are all sectors identified as offering significant opportunities for British companies.

In 2007-08, two-way merchandise trade between Australia and the United Kingdom was worth approximately A$16.8 billion. The services trade was also strong in 2007-08, around A$4.7 billion in exports and A$4.2 billion in imports. Recreational travel on both sides remains the strongest contributing factor to the services sector.

Global Trade

Australia’s trade policy is geared to increasing economic activity, liberalising trade and maximising access for Australia in the international market place. Australia is an active player in the WTO, in particular on agriculture. However, in the absence of progress toward a new global trade deal at the WTO, Australia is pursuing regional and bilateral free trade agreements, which, it hopes, will deliver faster trade and economic. FTAs have been completed with the US, Singapore, Thailand, New Zealand and Chile, and negotiations are underway with China, Malaysia, Japan, and ASEAN. Further bilateral FTA’s with India, Korea and Indonesia are also under consideration.

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(Source: www.fco.gov.uk )

4.0 International Trade between Saudi Arab and Australia.

Current business situation

Australian's planning to travel to, or who are in the Middle East, are urged to monitor developments that may affect their safety - through the Department of Foreign Affairs and Trade's (DFAT) current general travel advice and bulletins. It is recommended that Australians visiting the region register with the nearest Australian Embassy (see relevant DFAT travel advisory for Saudi Arabia).Australia urge it’s individuals to take sensible precautions, dress and behave conservatively, strictly observe Islamic customs and ensure that travel documentation, including passports and any necessary visas, for themselves and their dependents are valid and up-to-date. Austrade advises Australian companies with ongoing business in Saudi Arabia to maintain contact with their business partners and to clarify with their freight forwarders that the usual commercial arrangements still apply. Austrade offices in Riyadh and Jeddah are fully operational. Australian companies undertaking business in Saudi Arabia who are unable to travel to meet with their customers and business partners may wish to contact Austrade regarding commercial problems or issues they are facing in the Middle East.

Major Australian exports to Saudi Arabia (2007-08)

Passenger motor vehicles – A$1,014 million

Barley – A$264 million

Cheese and curd – A$90 million

Live animals – A$83 million

Major Australian imports from Saudi Arabia (2007-08):

Crude petroleum – A$322 million

Liquefied propane and butane – A$226 million

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Fertilisers (excluding crude) – A$158 million

Refined petroleum – A$30 million

(Source: Australian Government: Austrade)

5.0 Trade Rules and Regulation: Saudi Arabia

Trade Barriers

Saudi Arabia is currently in the process of accession to the World Trade Organization (WTO). As a result, once Saudi Arabia is admitted, the country's trade regime should become more accommodating to non-Saudi business and transparent. Saudi laws often favour Saudi citizens, and the Kingdom still has a different set of trade barriers, mainly regulatory and bureaucratic practices, which restrict the level of trade.

For example, only Saudi nationals are permitted to engage in trading activities.

All industrial enterprises are open to non-Saudis, and they can also trade in the products they manufacture. Non-Saudis are not permitted to register as commercial agents.

Business Visas: All visitors to Saudi Arabia must have a Saudi sponsor in order to obtain a business visa to enter Saudi Arabia. The Saudi who agrees to act as a sponsor accepts certain legal obligations including personal liability for the actions of the visitor. Therefore, a Saudi rarely assumes sponsorship unless he has a personal interest in the proposed visit .

Delayed Payments: Although some Saudi Government agencies still have outstanding dues in 1996 and 1997, the Saudi Government has taken several measures to reduce its arrearages. The most notable move has been a $4.3 billion loan package to cover payments to Boeing for aircraft purchased by the national airline, Saudi Arabian. The Embassy estimates that remaining arrearages still total $2 to 3 billion. Nonetheless, the problem persists, and U.S. companies should check with the U.S. Embassy or Consulates for information on the current arrearage situation

Copyright Law: Saudi Arabia's Copyright Law does not extend protection to works that were first displayed outside of Saudi Arabia, unless the

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author is a Saudi citizen. However, the Saudi Government maintains that this is sufficient to extend protection to foreign works.

Trademarks: Trademarks are protected under the Trademark Law. Trade secrets are not specifically protected under any area of Saudi law; however, they are often protected by contract. There is no specific protection for semiconductor chip layout design. Several of these issues are being taken up in connection with Saudi Arabia's application to become a member of the WTO.

Counterfeiting: Consumer products and automobile spare parts manufacturers are particularly concerned about the widespread availability of counterfeit products in the Kingdom. While anti-counterfeiting laws exist, the U.S. Government has urged the Saudi authorities to step up enforcement actions against perpetrators.

Protective Tariffs and Non-Tariff Trade Barriers: Saudi tariff protection is generally moderate, but has increased over the years. A number of Saudi "infant industries" now enjoy 20 percent tariff protection as opposed to the general rate of 12 percent. Saudi non-tariff barriers also are increasing. Such barriers include preferences for national and GCC products in Government procurement; a 30 percent of contract value "set-aside" for local contractors on major Government projects; a requirement that foreign contractors obtain their imported goods and services exclusively through Saudi agents; reservation of some services for Government-owned companies, namely, insurance and air transport; and the economic offset requirement mandating reinvestment of a portion of contract value in indigenous industries for certain high value Government contracts, particularly in defence. (Source: Saudi Arabia: Trade Regulations and Standards)

6.0 Trade Rules and Regulations: Australia

Trade Policy: Having shielded its industry for most of the past decades behind tariff protection, Australia began to reduce its tariff including in its most protected industries such as automobiles and textiles in the 1980s. The Australian economy has since reaped the rewards of tariff reduction through lower prices of imported business inputs, increased productivity and improved international competitiveness.

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Import Controls

There are no special requirements for applying an import licence, nor are there any quotas on imports. However, under the Customs (prohibited Imports) Regulations, controls take the form of a) an absolute prohibition meaning that import of these goods is banned in any circumstances; and b) a restriction where imports are allowed only if written authorisation is obtained from the relevant authorities, or if compliance with certain regulations is met. For some commodities, import permits are required to facilitate clearance of goods.

Items subject to control include animals and animal products; narcotics, psychotropic and therapeutic drugs; certain chemicals and primary commodities; firearms and certain weapons; motor vehicles; and certain dangerous goods. Controls on these goods are maintained to meet health and safety requirements or labelling, packaging or technical specification requirements.

Customs Valuation and Tariff

Australia adopted the Harmonised Commodity Description and Coding System (HS). It is a dual-column schedule providing for both general and preferential duty rates applied to goods from developing countries.

The Australian Government has planned for the progressive reduction of tariff protection for local industry. The tariff reduction programme has already reduced 48% of Australian tariff to zero and 35%. About 86% of tariff rates now range between zero and 5%, except certain automobile products and the textile, clothing and footwear commodities. The average applied most-favoured-nation (MFN) rate for industrial products is 4.6%, while the applied MFN tariff for agricultural products is less than 1%.

While there are several ways of valuing goods for customs purposes, the method most applied is the transaction value based on the price actually paid for the imported goods.

GST and Other Taxes

Goods and services tax (GST) was introduced in 2000 and is payable on most goods and services imported into Australia except for some essential

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commodities. GST is levied at 10% of the value of a taxable importation which is the sum of the customs value of the goods, any customs duty payable, delivery costs and other expenses.

Australia imposes GST, wine equalization tax and luxury car tax on locally produced and imported goods.

Anti-dumping and Countervailing Duties

Where a consignment of goods has been imported to Australia, or is likely to be imported, and an Australian industry producing the like goods believes there are reasonable grounds, an applicant may apply for a dumping duty and/or a countervailing duty notice to be published.

Australia has initiated a number of anti-dumping proceedings against certain countries including China. Currently there are a number of mainland origin goods subject to Australia's anti-dumping measures, including preserved pineapples, preserved mushrooms and certain chemicals

Customs Clearance

Importers wishing to clear their own goods should contact the Customs Information and Support Centre for advice on Customs requirements and operating hours. Customers should be aware of their obligations and base on their assessments of import procedures. Penalties may be imposed for the submission of incorrect or misleading information.

Business travelers carrying commercial goods or sample may need to obtain permits for their goods depending on the nature of the goods, regardless of value. Quarantine and wildlife regulations and other restrictions may also apply to certain goods. Laptop computers and other electronic goods for personal use may be admitted duty free provided Customs is satisfied that these goods would be taken back on departure.

Customs advises that purchasing goods over the Internet or mail order are subject to customs controls. Restricted goods brought into the country require an import permit. Goods may be imported duty and tax free if their value is $1000 or less, with the exceptions of tobacco and alcoholic products. However, multiple packages to the same addressee from a single consignor arriving at the same time are liable for tax assessment.(Source: Small Business Resources-Trade Regulations of Australia .)

7.0 Trade Agreements between Saudi Arab and Australia:

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Australian Minister for Trade Simon Crean, who is currently visiting Saudi Arabia, has reaffirmed the need to initiate talks for a free trade agreement between the six-nation Gulf Cooperation Council (GCC) and Australia. Claiming that trade was the "multiplier of global economic activity," Crean said Australia must use the G-20 meeting later this month to push the cause of free trade as a way of warding off the worst effects of the financial crisis. "Crean’s visit is mainly intended to give a push to the proposed free trade agreement," said Roy Clougstoun, a spokesman of the Australian Embassy, here yesterday. This is the first formal visit to Saudi Arabia by a minister in Prime Minister Kevin Rudd’s government. Clougstoun said that Crean held wide-ranging talks with senior Saudi officials including Riyadh Governor Prince Salman, Minister of Commerce and Industry Abdullah Alireza and SAGIA Gov. Amr Al-Dabbagh "The purpose of Crean’s visit was to meet with key Saudi ministers to advance Australia’s trade, economic and investment interests with Saudi Arabia," said the spokesman, while expressing satisfaction that the purpose of the visit was served. Asked whether the issue of livestock trade with Saudi Arabia was discussed during Crean’s talks with Saudi officials, the spokesman said that "it did not figure in official talks."(Source: Australia seeks free trade deal with GCC)

8.0 Comparative Study Regarding Trade Activities between Saudi Arabia and Australia:

Saudi Arabia is a member of the Gulf Co-operative Council (GCC), and Organization of Petroleum Exporting Countries. The six countries of the Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) have announced the formation of a Customs Union that is currently being phased in over the next few years. Reports have indicated that the Union will eventually eliminate all fees, taxes, customs and other obstacles to trade between the member countries. A standard tariff of five per cent will then apply to most imports from countries outside the GCC Customs Union.

A preliminary assessment of the customs union, based on available reporting indicates that:

The standardisation of customs requirements and procedures will benefit exporters active in multiple GCC markets.

The tariff will eventually be applied at any port of entry to the customs union, which will positively impact on exporters of transhipped goods - who may now pay only one customs duty.

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The tariff of five per cent is significantly lower than that currently applied in some GCC markets, but is also higher than that applied in others, with mixed implications for Australian exporters.

It is likely that many goods currently exempt (particularly basic foodstuffs and manufacturing inputs) will maintain their duty-free status (where it currently exists). Though some goods currently exempt from duty may have a five per cent duty imposed on them.

A list of products will be exempt from the maximum five per cent tariff to protect local GCC industry. It is anticipated that this list will not be finalised until 2004. Restrictions on passage of certain products through GCC countries will also apply. For example it is currently a requirement for meat products exported from Australia to Saudi Arabia is shipped direct (with transhipment through Singapore only being allowed).

Australian exporters will not be disadvantaged vis-à-vis competing international suppliers. GCC country suppliers will enjoy a five per cent tariff advantage vis-à-vis Australian and other overseas competitors in those product areas where competing GCC suppliers exist. Very few products from Australia compete with GCC countries and so Australia’s competitive position - even if a duty is applied - should not be affected to any significant degree.

There remain a number of issues yet to be resolved between the six member states. In the short-term, exporters are advised that import requirements and procedures for many GCC markets remain unaffected. Transition periods of two years or more exist on a range of industries. Transition periods also exist for the implementation of general product, and food safety standards, with a genuine common market not anticipated until 2007.

In the longer-term, Australian exporters will be required to develop greater brand recognition and uniformity in and between GCC markets and will have to guard against pricing disparities between GCC markets which might trigger competition among different GCC agents and distributor.

The Customs Union will promote trade and investment in the Gulf countries and is expected to continue to provide opportunities for Australian exporters. Australian trade with the GCC shows total exports valuing A$3.9 billion in 2003. It is also recommended that exporters check with their customers in GCC countries, and shipping agents to verify customs requirements.

(Source: Saudi Arabia: Trade Regulations and Standards)

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9.0 Conclusion:

The Australian government is showing positive steps towards the trade relations with Saudi Arabia. They advised the travelers to show respect to the Saudi cultures and to maintain a conservative dress code. The level of trade between the two countries is also increasing. Recently the Australian Foreign Minister has visited Saudi Arabia for trade talks. Saudi Arabia is a member of GCC and trying to acquire a membership in WTO. In response to this WTO has proposed several steps to eliminate discriminatory trade practices in Saudi Arabia.

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Bibliography:

I. (30 October 2007).Foreign and Commonwealth office (FCO). Retrieved in April 14, 2009 from http://www.fco.gov.uk/en/about-the-fco/country-profiles/middle-east-north-africa/saudi-arabia/?profile=economy&pg=2

II. (11 March 2009). Australian Government Austrade. Retrieved in April 14, 2009 from http://www.austrade.gov.au/Saudi-Arabia-profile/default.aspx

III. Saudi Arabia: Trade Regulations and Standards. Retrieved in April 16, 2009 form http://www.the-saudi.net/saudi-arabia/trade_regulations_and_standards.htm

IV. (Dec 01, 2007). Small Business Resources-Trade Regulations of Australia. Retrieved in April 16, 2009 from http://sme.hktdc.com/sme_content.aspx?contentid=174178&src=List_ir&w_sid=194&w_pid=886&w_nid=11436&w_cid=6&w_idt=1900-01-01

V. (4 Nov 2008). Australia seeks free trade deal with GCC. Retrieved in April 16, 2009 from http://www.bilaterals.org/article.php3?id_article=13672

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