Australia

Ukraine-Russia conflict effect on global commodity prices. There are Domestic Economic Risks, Business Investment- Transition from large drop- finish up of committed investment. Exports- Project delays, delayed production ramp-up Labor Demand- Weaker labor market conditions from declining resources investment.Housing- Growth entrust be weaker if dwelling investment does not recover strongly as forecast. Australia has an abundant and diverse range of verve resources. It has very large coal resources that underpin exports and low-cost municipal electricity production, ore than one third of the worlds know uranium resources, and substantial conventional gas and coal seam gas resources. These can support Australias domestic needs and exports for many years to come.Identified resources of crude oil, condensate and liquefied vegetable oil gas are to a greater extent limited and Australia is increasingly reliant on imports for transport fuels. The expected advances in technology by 203 0 will allow them to make a growing contribution to Australias future zilch supply. By this time Australias energy consumption pattern is expected to change significantly. While fossil fuels (coal, oil and increasingly gas) will mark to dominate the energy mix, renewable energy sources, notably wind, are expected to become increasingly more significant.Korea is Australias fourth-largest trading partner, and Australia is Koreans seventh largest trading-partner, with trade volumes of approximately $30 billion in 2013, so its not affect that both countries are trying to conclude a Korea-Australia Free Trade Agreement ( plank). Given the circumstance that the energy and resources sector accounts for nearly half of that, it will be particularly important for industry participants to discover the main opportunities that will arise once the FAT is finalized. Lion of iron ore and concentrates, $1. Billion of crude petroleum and $700 million of liquefied natural gas. Koreans largest exp ort 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 affix trade between the two countries by 23% by 2030, with 17% attributable to an increase in the trade of energy and resources products. This FAT will improve Australia-Korea economic ties and will protect Post-crisis environment.