HSBC: "Australia Open for Business despite global trade tensions, rising protectionism"

Australian businesses’ enthusiasm for free trade and the opportunities it creates has not been dampened by the rising threat of protectionism and ongoing trade tensions, according to new research from HSBC.

Navigator: Now, next and how for business reveals that Australian firms are more optimistic than their global counterparts about international trade opportunities, with 89 per cent of respondents in Australia positive about the current environment, compared to a global average of 78 per cent.

“Australia’s ever-increasing linkages with the Asia-Pacific region appear to be bolstering local trade confidence, as is the prospect of a Free Trade Agreement (FTA) with the European Union (EU),” said Steve Hughes, Head of Commercial Banking, HSBC Australia.

“Strong trade ties, underpinned by existing and future FTAs, continue to support Australia’s economy and reinforce the importance of trade liberalisation efforts.”

 

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