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Contrary to popular belief, the United States is Australia's largest source of foreign investment - not China. As highlighted in a major United States Studies Centre (USSC) report last week, more than 26 per cent of Australia's foreign investment comes from the United States and more than 28 per cent of Australia's foreign investment is in the United States. With a two-way investment relationship worth $1.82 billion, it is clear that a thriving economic partnership between the two countries is essential to post-pandemic recovery.
This year marks 15 years since the Australia-United States Free Trade Agreement, a cornerstone of the bilateral economic relationship, came into effect. The landmark agreement not only allowed for US-Australian economic ties to grow amidst a global decrease in foreign direct investment but it also supports some 323,000 jobs at US-owned firms in Australia. The USSC is honoured to mark the occasion on 24 July with champions of the historic agreement: The Hon. John Howard OM AC, The Hon. Arthur Sinodinos AO, The Hon. Joe Hockey, Robert Zoellick, Wendy Cutler and Michael Thawley AO. Spaces are still available for the webinar event on Friday, but due to the high number of registrations, questions must be pre-submitted.