The Government of Canada (`Canadian government`) and the Commonwealth Government of Australia (`Australian government`) have agreed to strengthen trade between their respective countries: Australia has taken trade initiatives or entered into trade agreements with the countries or groups of countries listed in the following table. 1. Subject to the provisions of paragraph 7, each party may request written consultations with the other party on any issue it de considers to affect its commercial or investment interests. 4. The Advisory Group will continue to monitor multilateral and multi-lateral trade and economic developments of common interest. Recognizing the mutual benefits of long-term and stable economic relations and the development of their trade and investment relationships; The foreign services of Canada and Australia exchange officers for professional development purposes and similar agreements are concluded between other divisions of government. Convinced that the establishment of a framework for consultation between them on trade and investment will contribute to the growth of trade and investment between the two countries, Canada-Australia relations are friendly and highly productive. Relationships have developed over a long history and are based on both a common past and shared values in the areas of trade, defence relations, academic and student exchanges, culture, consular agreements, parliamentary relations, multilateral cooperation and political and governmental affairs. Tariffs and tariffs are constantly revised and can be changed without notice. Austrade strongly recommends that they be confirmed prior to the sale in Canada. The parties establish the Trade and Economic Cooperation Advisory Group (`Advisory Group`), chaired by representatives of the contracting parties with jurisdiction over international trade or their representatives, which includes other interested ministers or their agents, who may be mutually decided from time to time.
Canada and Australia have a strong and varied bilateral relationship. Canada regularly consults with Australia to promote common interests on international issues on the basis of their political convergence in many areas, including defence and security, trade, economic growth, illegal immigration, counter-terrorism, counter-proliferation, social issues (including indigenous peoples), transportation and regional issues. Canada`s defence relations with Australia are the largest in the Asia-Pacific region. Canada also cooperates closely with Australia through multilateral institutions such as the United Nations, the Commonwealth, the World Trade Organization, the G20, the Organization for Economic Co-operation and Development, the Cairns Group and Asia-Pacific Economic Cooperation. Canada`s trade relationship with Australia is strong and diverse. In 2018, two-way merchandise trade between Canada and Australia remained stable at $4.1 billion. Canadian exports totaled $2.0 billion and consisted largely of value-added products such as machinery, aircraft and parts, electrical and electronic machinery and equipment, motor vehicles and parts, as well as scientific and precision instruments. Imports amounted to $2.1 billion and included inorganic chemicals, meat, beverages, precision instruments and technical machinery. Two-way trade in services in 2018 was estimated at about $2.7 billion, with Canadian exports accounting for about $1.6 billion. The advisory group will encourage and facilitate trade and investment between the parties and encourage cooperation between the Canadian private sector and the Australian private sector through initiatives such as b.