The paper 'Government Regulatory Business' is a great example of a Business Case Study. Government business regulatory policies seek to improve the trade and foreign exchange between them and other countries. The government sets up policies, which seek to improve and attract foreign ties with other countries that have similar business policies. Australia has its own regulatory policies and these policies are similar to those set up by other countries, but there are a few differences in the policies set up. The Canadian and the Australian regulatory policies do not have many differences as both countries have almost the same policies that seek to control their international and internal trade policies, (OECD.
2008). The trade policies set up by the two countries prioritize the benefits that each country gets from entering into a contract with the other country. However, the formation of any regulatory policy in any of the two countries; especially those regarding international trade, should meet the standards of the world trade organization. The major difference between the two countries is the level of participation in international trade.
Australia goes into more international trade policies as compared to Canada which deals mostly with the United States majorly. This limits the exposure of the Canadian people to the different trade regulations and policies used in the different parts of the world. Australia on the other hand ventures into trade agreements with countries from different continents. This difference gets reflected in the formation of regulatory policies used by the different countries, ( McRae, Steger, Institute for Research on Public Policy 1988). Many regulations are set up for the purpose of benefiting the citizens of a country.
It helps to reduce unnecessary competition, promote a healthy business network, and ensure maximum exploitation of resources. Some of the policies set up by countries include free trade policies, standardization, and bilateral treaties. All his regulatory policies aim at making business among their business partners tolerable and ensure maximum benefits from their business deals. Free trade policies Among the policies set up by the Australian government is the free trade agreement; FTAs. This policy plays a vital role in improving the already existing network among countries across the entire globe, (National Library of Australia1993).
With the use of free trade policies, the Australian government gets to play a vital part in improving global trade. These free trade agreements are allowed by the world trade organization, which stipulates the overall rules for the countries participating in the world trade, (Smith, Stone, & Institute for Research on Public Policy, 1987). The free trade agreements cover large regions, but it is mostly agreements between two regions that want to have access to each others’ markets. The agreement allows the two regions to get into each others’ markets with limited or no restrictions.
The two parties make an agreement that binds them into a business deal that liberalizes their markets and makes it accessible to its business people. The agreements commonly reached by the two regions include those that give them a chance to exchange goods and services and allow the other party to make investments the other country through legal binding. Other issues addressed by the agreements can be those governing intellectual right to properties, procurements regulations, and policies that determine the level of competition between the two parties, (National Library of Australia, Commonwealth National Library Australia 2012).
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