The WTO is the World Trade Organisation. Trade patterns (who countries trade with) are shaped by the government and the WTO who set the rules and regulations that influence how countries trade.
The WTO aims to promote free and fair trade between nations. Member countries discuss issues and settle disputes that relate to world trade. The WTO also assists countries in developing trade agreements. There are two main types of trade agreements: Bilateral and Multilateral.
A bilateral free trade agreement is an agreement between TWO countries eg. Australia and the USA (AUSFTA). A multilateral free trade agreement is an agreement between MORE THAN TWO countries.
Australia's Current Free Trade Agreements:
Australia and New Zealand (ANZCERTA)
Singapore and Australia (SAFTA)
Thailand and Australia (TAFTA)
Australia and USA (AUSFTA)
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