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Australia Leads The Way To Globalisation With Triple FTA With Asia’s Big Three

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Australia Leads The Way To Globalisation

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Australia Leads The Way To Globalisation With Triple FTA With Asia’s Big Three

About Australia Leads The Way To Globalisation

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Australia is talking with ministers from Japan, Korea and China to finalise Free Trade Agreements with the trio ahead of Tony Abbotts visit to Asia in April. On Wednesday, Japan’s Farm Minister Yoshimasa Hayashi and Australia’s Trade and Investment Minister Andrew Robb failed to reach a consensus on tariff elimination. However, they confirmed negotiations would still be underway to obtain a win-win agreement after 7 years.

Specifically, Australia wants Japan to cut the current beef tariffs to 19% while Japan is only willing to go for around 30%. On the other hand, the Asian country wants Australia to slash its 5% auto tariff straight away.

If the deal goes through, Australia will become the first major farm exporting country to finalise a FTA with Japan, who has been the biggest importer of Australia’s beef.

The Australian beef industry is also awaiting the outcome of talks with Korea over the Korea-Australia free trade agreement (KAFTA), which is under ratification.

All You Need To Know About Globalisation

On Thursday, the upper house referred KAFTA to a Senate inquiry to get “the best deal Australia can get” for its producers.

The country’s beef sector hopes the deal is ratified soon as the US – Australia’s major competitor in Korea’s beef market – has made faster progress regarding tariff slashing.

“There is a unique situation with Australia for both Japan and Korea, as there should be no competition in various sectors between Australia and Japan/Korea.

If FTAs go through, we can expect to see synergies created from many supply networks, which will create value for everyone,” said Vivek Sood – CEO of Global Supply Chain Group.

Meanwhile, businesses are calling on Prime Minister Tony Abbott to finalise a FTA with China during his visit to country next month.

The Reasons Why We Love Globalisation.

“It’s hard to overstate the importance and the strength of Australia’s relationship with China. China is now, by far, our largest trading partner. In some years, it’s our largest source of immigrants.

And in most years, it’s our largest source of foreign tourists and students”, Mr Abbott said during an Asia Society Luncheon in Canberra.

The Department of Foreign Affairs and Trade says China’s trade with Australia reached $125 billion in 2012, with great opportunities for the beef and dairy industries.

However, critics point out China’s poor records in labour rights and environmental standards, which means compromising Australia’s standards for a FTA may be unethical.

Despite making no reference to China’s labour and environmental records, New Zealand signed an agreement with China back in 2008 and has greatly improved dairy and meat’s access to the Chinese market.

Here's What Industry Insiders Say About Globalisation.

“In a globalized world, the quicker we can eliminate trade barriers and roadblocks, faster we can integrate Australian companies into the global 5-STAR Business Networks that run modern economies” said Vivek Sood, author of the book “The 5-STAR Business Network“.

“Globalisation has been blamed by both the extreme right and extreme left for a host of economic ills facing various nations.

Having seen the effects of globalisation at close quarters in more than 100 countries, I cannot disagree more.

In my view the results attributed to globalisation are more attributable to other factors such as human malfeasance, institutionalized corruption even in the highest places, laziness, a sense of entitlement to riches without working for them and herd mentality leading to action without thinking and many such factors – all a small part of basic human nature.”

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ABOUT THE PRINCIPAL AUTHOR

Today, Vivek and his partners are among 20-30 people on the planet earth who have this deep understanding of supply chain systems, practices and tools. CEOs, COOs, executives and Boards call them in most challenging situations once they know the full potential of supply chain based transformations. Following are key milestones in Vivek's journey:

  • Started in 1983 as a merchant navy cadet at 18 years age, worked his way to qualify as a Captain – qualified to take command of any merchant ship, worldwide.
  • Earned a top tier MBA from UNSW at the top of his class.
  • Joined highly regarded strategy consulting firm Booz Allen & Hamilton, consulting to the CEOs, Boards and senior management of global corporations within Australia.
  • To learn and specialise in supply chain – against all odds, sought out the co-inventor of supply chain in Germany and convinced him to be a partner in his firm, GLOBAL SUPPLY CHAIN GROUP, launched in January 2000.
  • More than 500 successful blue chip projects with high impact business transformations in large corporations using the full power of SUPPLY CHAIN MANAGEMENT.
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If you are deeply passionate about the world of business and supply chain networks as I am, and enjoy digging answers to critical questions that will help build and steer your business with wisdom, then join me. This book is a journey of exploration through the world of business networks that run along the veins of today’s commercial world.

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OUTPERFORM OUTSOURCE OUTPROFIT

The trend of outsourcing continues to grow unabated with the whole gamut of services, from simple to mission-critical tasks. There is not a single company on earth that does not outsource anything. It is not just about cost arbitrage, it is also a finer expression of division of labour at the organisational level. Like all leverage, outsourcing is a double-edged sword too. On one hand, it allows you to do more, faster. On the other hand, if it goes bad, it can easily kill your business. If you do not believe that is possible – you can google the Fox Meyer saga from the 90s and see for yourself.

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Businesses Are Chained By Unseen Chains. If You Are Looking For Ways To “Unchain Your Corporation” A Successful Business Transformation Is Required.

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Business Transformation Is Fast Becoming A Question Of Survival In The Modern Globalised Era.

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Companies Can Multiply Profits By Progressively Ramping Up Cohesion And Collaboration Of All Moving Parts In B2B Network To Achieve Tighter Integration.

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GREEN SUPPLY CHAIN – AN ACTION MANIFESTO

It is generally accepted that environmental consciousness is now changing to environmental proactiveness as organizations are discovering that it makes good commercial sense.

Boards are asking the management to review their policies related to environmental norms, not only to bolster their corporate social responsibility aims, but also because consumers are asking for greener supply chains

It is also widely agreed that consumers will increasingly prefer to buy more and even pay more for products or services provided in an environmentally sound manner.

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