Australia

Ukraine-Russia conflict effect on global commodity prices. There ar Domestic Economic Risks, Business Investment- variety from outsized drop- off of committed investment. Exports- brook delays, delayed production ramp-up Labor Demand- Weaker bear on market conditions from declining resources investment.Housing- Growth provide be weaker if dwelling investment does not detect strongly as forecast. Australia has an abundant and versatile range of nada resources. It has very large coal resources that underpin exports and low-cost interior(prenominal) electricity production, ore than one third of the worlds know uranium resources, and substantial conventional fluid and coal seam gas resources. These go off support Australias domestic needs and exports for some(prenominal) years to come.Identified resources of crude oil, condensate and molten petroleum gas ar to a greater extent(prenominal) limited and Australia is progressively reliant on imports for transport fuels. The expected advances in engine room by 2030 will allow them to fake a growing contribution to Australias time to come heartiness supply. By this time Australias energy consumption pattern is expected to channelize significantly. While fossil fuels (coal, oil and increasingly gas) will intention to dominate the energy mix, renewable energy sources, notably wind, atomic number 18 expected to become increasingly more significant.Korea is Australias fourth-largest trading partner, and Australia is Koreans seventh largest trading-partner, with quite a little volumes of almost $30 billion in 2013, so its not surprising that both countries are trying to conclude a Korea-Australia exempt Trade Agreement ( flesh out). Given the occurrence that the energy and resources sector accounts for nearly half(a) of that, it will be particularly authorised for industry participants to understand the main opportunities that will arise once the FAT is finalized. social lion of iron ore and co ncentrates, $1. Billion of crude petroleum and $700 million of liquefied natural gas. Koreans largest export to Australia was refined petroleum, coming in at approximately $3 billion. Official estimates are that Australia provides approximately 75% of Koreans iron ore and around 40% of its coal. According to the Australian Government, the FAT could increase trade between the deuce countries by 23% by 2030, with 17% attributable to an increase in the trade of energy and resources products. This FAT will amend Australia-Korea economic ties and will protect Post-crisis environment.