The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.
Business environment in Australia
Australia has experienced more than two decades of continuous economic expansion, during which it has progressed into a highly-developed country offering tremendous opportunity for Canadian companies in a variety of sectors. Openness to global trade and investment is firmly entrenched and is supported by a transparent business environment and well-established legal and regulatory regimes. Australia has strong economic ties with emerging and developed economies throughout the region, having recently concluded several trade agreements with key Asian partners. The country has been actively engaged in regional forums such as the Asia-Pacific Economic Cooperation (APEC) and the Association of Southeast Asian Nations (ASEAN). As such, Canadian companies should look to leverage these connections or explore partnerships with Australian firms in order to capitalize on the abundant opportunities available in neighboring markets.
EDC serves Canadian companies in Australia through our local representation in Sydney.
Get the latest on Canada's new free trade agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It's a trade deal with 10 countries bordering on the Pacific Ocean, including Japan, Malaysia, Peru and Mexico.
Here’s a helpful tip for doing business in Australia
Given the significant time difference between Canada and Australia, it is important to provide on-the-ground support to customers, especially in case of an emergency. Consider using a partner in the market to help.