Australia in the Asia Pacific Essay Example | Topics and Well Written Essays - 3000 words

Australia in the Asia Pacific - Essay Example This, along with democratic institutions, cultural diversity and a record of constructive international engagement, underpins Australian participation in world affairs. Key components of Australia's security strategy include a strong national defense capability; the alliance relationship with the United States; bilateral defense and security relationships with Asia Pacific countries; and multilateral security links, especially through the Association of South-East Asian Nations (ASEAN) Regional Forum. Australia is closely engaged in international counter-terrorism efforts both regionally and around the world." According to the World Bank, the East Asia Pacific region consists of more than 20 countries and the region is home to more than 2 billion of the earth's people. The countries included in this region are; Cambodia, China, Fiji, Indonesia, Kiribati, Korea, the People's Democratic Republic of Lao (Lao PDR), Malaysia, Marshall Islands, FS Micronesia, Mongolia, Palau, Papua New Guinea, the Philippines, Samoa, Solomon Islands, Thailand, Timor-Leste, Tonga, Vanuatu, and Vietnam. (http://www.worldbank.org) One of the main reasons why Australia needs to focus on the South Asian Pacific region is that it is a lucrative potential market for our country. "Close engagement with Asia is an imperative for Australia, and bilateral political, security and people-to-people links between Australia and many Asian countries are strong and sophisticated. Extensive two-way trade and investment and the development of comprehensive bilateral free trade agreements characterize economic relations with a number of countries in Asia. Japan and China are Australia's largest and third-largest export destinations respectively." (http://www.dfat.gov.au/aib/australia_foreign_trade_policy.html) As with all the rest of the world; Australia likes to maintain close-knit relations with Pacific Asia. The following map helps to determine the layout of the South Asian region on the world map.Source: http://www.lexisnexis.com Source: http://siteresources.worldbank.org/INTEASTASIAPACIFIC/Images/eap-map.jpg In the 2006 opening address to the Energy Security in Asia Pacific Policy Forum, Australian Treasurer, the Honorable Peter Costello MP stated the following statistics, "Australia has 8 per cent of the world's total reserves of coal. It has been the world's largest exporter of coal since 1986. In 2004, Australia accounted for 55 per cent of total world exports of metallurgical coal and 20 per cent of total world exports of thermal coal. It has 2 per cent of the world's natural gas reserves. Since 1989, it has emerged as one of the world's largest exporters of Liquid Natural Gas (LNG). Australian firms have become known as noteworthy long-term suppliers of LNG to China. Australia's Northwest Shelf endeavor has been chosen by China to be the sole provider of LNG. The agreement will worth between $A20 and $A25 billion in export revenue for Australia. This is Australia's largest solitary export deal. Australia has 40 per cent of the world's proven reserves of uranium and is the world's second largest uranium