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Abstract

The leitmotif of this paper is the strong, rising and alarming trend of deficits in Australia's balance of payments current account, which makes it overwhelmingly important to increase exports. Market promotion, substantially the existing method, will not do the job in a world with politically set up trade barriers. Multilateral political negotiations about the removal of the trade barriers within the G.A.T.T. system are unlikely to help for Australia's range of exports. Therefore Australia must enter into bilateral negotiations with any likely important customer, the most obvious one being Japan, to lower trade barriers on a bilateral basis, and this under the existing international agreements can be done only under the guise of a partial free trade area.

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