Promoting Exports Encouraging National Culture

Question: Describe about the Promoting Exports Of Wool And Woollen Commodities While Encouraging National Culture. Answer: Project Description Australia is one of the largest producers of premium quality of fine wool by value and the volume across the globe. In the opinion of Kim (2012), the country produced almost 25% of greasy wool for selling in the global market. It has been speculated that wool is the second most exported agricultural products of the country that makes up 11% of the total exports of the farm products (www.wool.com, 2016). Although having an outstanding trading figure the textile industry of the chosen country is still underdeveloped (Julian, 2013). The lack of development of this segment has been addressed to improve the demand for woollen products. The discussion regarding the context leads to a point for assessing the significance of exporting the wool and the woollen commodities to encourage the national culture of the country. Therefore, identifying the factors would encourage the export activities of Australia to establish a distinctive international market of woollen products. Significance In the contemporary of the exporting goods, enhancement of national culture has become a vital aspect for all the exporting organisations. The international export criteria help to identify the different product lines of the specific country and the diversified culture of this specific community. Presently the issue is that the lack of efficiency and security is seen while providing a sustainable range of products. This kind of negligence in infrastructure makes the easy supply of the raw materials while manufacturing the finished textile for exporting. This also creates a huge negative impact on the profit margin of the firm. The issue has become even more critical with the growing competition in the export industry. Hence, the study attempts to increase the exporting activity of wool and the woollen commodities which can also be contributed to enhancing the national culture of the country. The research findings could help to address the current situation to improve the exporting op erations. The research also evaluates that the country has enjoyed a lot as a major producer of wool and this is the prime reason to improve the export relationship. Research question(s) The study aims to promote the export of wool and the woollen products to encourage the national culture of Australia. In this context, the research would attempt to investigate the current export scenario of Australian woollen commodities and would provide a suitable strategy in order to advance the future exporting activities. Research objectives: The research objectives are presented below: To analyse the current position of the Australian woollen industry and the woollen commodities export scenario To determine the contribution of exporting wool and woollen commodities to encourage the national culture of Australia To identify the factors that encourage the export activities of the Australian woollen commodities To recommend suitable strategies to advance the wool exporting activities in Australia Research Question: The research questions are stated below: What are the current position of the Australian woollen industry and the woollen commodities export scenario? How the contribution of exporting wool and woollen commodities can be helpful to encourage the national culture of Australia? Which factors can encourage the export activities of the Australian woollen commodities? What can be the suitable strategies to advance the wool exporting activities in Australia? Literature review Australian wool industry and its export scenario: More than 95% of the wool produced in Australia is exported. The analysts indicate that the domestic consumption of wool in Australia is extremely lesser (Swan et al. 2008). In the words of Waschik Fraser (2007), the Australian economy is strongly dependent on the export scenario of Wool, as the Australian exports are mainly consumed by the global regions. The market power of the Australian wool industry has been found comparatively higher than the other countries. However, Preston et al. (2016) stated that the estimate of wool production forecasted that in the FY 2016-2017, a minimum of 1.5% fall would be experienced by the Australian economy regarding its export scenario. It has also been observed that the wool exports were worth 2 billion to Aistraluiaand Approximatrly an amount of $600 million to Victoria in the FY 2008 2009. In the later stage the export value was increased and significantly impacted on its overall national economy. Altogether, 28 of the 39 countries used to import Australian wool in terms of scourd and carbonized wood. Inference can be drawn from the previous assertions that the Australian Export activities are flourished with the passing phase of time, thus, the region is targeting to tap on the developing regions like India and China. Although the projection shows a reduction in the export scenario, the Australian Eastern market Indicator has been increased by 3.4% in the March 2015 (www.abs.gov.au, 2016). In the words of Preston et al. (2016), the wool export fall by -9% in the FY 2015-2016, this has affected the overall economy of Australia. However, the export intensity remained higher till now in contrast with other locations. The Australian wool export value has become 19 microns, and the production of finer wool has been increased over the time. More than 80% of the export goes to China, which was only 12% in the FY 1991-1992 (www.abs.gov.au, 2016). The factors influencing the wool exports of Australia: Assistance and incentives offered by the government: The Australian government is encouraging the establishment of the wool processing plants in different cities. The government believes that the on-going invectives and assistances could be directed towards the firms process and manufactures the wool product. It has been identified that the government intervention is related to manage the cost that is increasing the production of the woollen materials. The exceptional contributions have been offered by the Federal government to protect the creations from the climate changes. Waschik Fraser (2007) also stated that the government is well placed to assist the manufacturing industries through water supply and other approaches to the energy conservation as well. The development of technologies has also influenced the production of wool in the Australia. National culture: Farming in Australia has been developed from the history. It was initiated in the year 1788, at Farm Cove, the site of the Royal Botanic Gardens in Sydney. The changing nature of the farmers has also significantly contributed to the growth of the wool industry. Considering the statistical data of 2010, more than 77,000 students were enrolled in the agricultural and environmental related studies, aiming to establish the textile or woollen business (www.abs.gov.au, 2016). Thus, the national culture has significantly promoted the wool production and export scenario of Australia. Encouraging the national culture through the exports of wool and woollen commodities: The government keeps on supporting the local communities to produce woollen products to increase the export scenario. However, Julian (2013) argued that the demise of the Wool reserve price scheme in 1991, affected the overall production of wool in Australia. Eventually, the national economy gets affected as well. Also, the export of greasy wool and the overall import of the finished products are still a growing concern for the Australian culture. According to Waschik Fraser (2007), the Australian trade and culture are interlinked regarding emotions and other societal values. The approach of the wool trade is innovative and culture-centric. It has been identified that the Australian culture exemplifies the process that is to be conducted in the international businesses. Along with the national culture, the government regulation and other regulatory aspects are mixed to improve the export scenario. However, Salim Islam (2010) stated that the greater taxation and reduced government i nterventions are affecting the growth of the wool production in Australia. The forecasted report in the FY 2015 also shows that the wool production will decline by 4.3% to 332 kg. It reflected a sharp fall of 3.7% in the shorn sheep numbers and continued a high turn-off on the revenue growth as well (www.wool.com, 2016). Recommendations to improve the current export scenario: The statistical data shows that Australian wool trading is majorly focused on the India and China. On the other hand, the Chinese and other Asian marketers are capturing the European and US wool market gradually, while Australia is failing to achieve the US marketers to a significant degree (Wiedemann et al. 2016). Therefore, the government needs to prioritise to the operational program generic improvement of sheep. The Sheep and Wool advisory committee also need to employ an audit process to balance the allocation of resources within that operational program. The dominance of China in the greasy wool export can be mitigated and captured by Australia, through the restructuring of some of the wool combing plans. The government also needs to improve the financial support of the manufacturer. Eventually, the production and the export ratio of wools can be enhanced. Methodology on secondary data India's wool imports from Australia growing at 17%, published by Business Standards, June 26, 2007: Australian has been identified as one of the emerging wool exporting regions in the global context. The journalist in the present article has explained that the Australian Forex (Foreign Exchange) agencies believe India to be the most potential regions for exporting the woollen commodities. The article signifies that India has a potential margin of manufacture, but the country needs to emphasise more efforts to compete with the manufacturing and export actions of Chinas knitwear. The statement of Simon Johnson, the Regional Director in the Westerns Australia Trade Office in India claims that India is apprehended by the majority of the Australian woollen commodities. The export margin of the Australian commodities has increased by 17%, and the growth is expected to sustain for a considerable period. The last years statistics forecast that Australian wool trading activity has contributed the regions with the total amount of S 180 million. However, the statistics also reflect that China managed to import 60% of the total exported commodities of Australia. The second is Italy with the margin of 20 25% and third India with 15 20%. The wool exported to China and India is majorly used in the manufacturing Knitwear, which has a potential market in the US and European countries. China has managed to tap the majority of the European market, yet, Indian and Australian market is still at a growing pace. The article also reflects the fact that Australia considers India to be the potential regions for the woollen segments; yet, it has to enhance its output of export sand Knitwear. As per the opinion of Michael Moingnard, the Senior Trade Commissioner-South Asia and Australian Trade Commission, the focus is exclusively on the agri-exports and Indian energy industry. The Australian Forex department is showing a high interest in exporting coal to India. The existing article also specifies that the Indian power sector is also expected to grow 200,000 Mc. Thus, the region requires a total amount of 70 mn tonnes of coal. A prized yarn from Australia, published by The Economist, September 3, 2015 The current article reflects that the Australian economy grew by 0.2% between the month of April and June. Thus, the specific industry has experienced an annual growth of 2 %, which is relatively lower than the previous year. The wool industry has helped Australia to increase its open spaces. The present report specifies that China is in the progression of capturing the entire textile market of the European market. Australia continued to flock the agricultural jamborees to observe the efforts of the shearers competing for the fastest shearing times. The region has managed to clip an average fleece of 5kg of wools from the sheep shorn at least once a year. The Majority of the wool commodities is used in the export purposes. In the particular period, the Australian wool export activities have increased by 20%, which worth value terms of $ 3.0 billion. The present article discusses that Australia produces the worlds best quality woollen fibre, Australian merino. The report reflects that the farmers of the particular region are selecting the superior animals for the breeding purposes. The farmers are getting the additional advantage of the Australian climate that is accurate for the wool farming activities. As per the data of the Preliminary ABS show, in 2001 Australia had approximately figure of 111 million sheep and lambs, which accounted for nearly 9% of global sheep numbers. However, the particular modest contribution to the global textile sector signifies that Australian managed to dominate the majority of the global woollen market. Furthermore, it has been assessed that Australia produces around 50% of the global merino wool. The total wool production capacity in the Australian market is increased by an approximate range of 645,000 tonnes of greasy wool in 2001. Thus, the export action of the woollen commodities is increased b y 27% in the greasy wool division. The existing article specifies that Australia has exported over 90% of its wool clip in the specific year. Additionally, the article signifies that the export action between Australia and China has also increased considerably. China has managed to purchase a significant share of Australian exports of semi-processed and raw wool, thus, imported a proportionate amount of $1,360m of Australian wool in 2001.Moreover, the European Union also accounted for the one-third of Australian wool exported values and imported an approximate amount of 30% with Italy. Management of data and ethical responsibilities While conducting the research, the secondary data would be considered to create a potential result of the study. Taking this into consideration, several journals, books, magazines and the websites of Australian wool export industry would be measured by the research associate to accumulate the secondary data. In the opinion of Daramola (2013), to investigate a research, journals, articles and books are the most authentic source for collecting the secondary information. As a consequence, the research associate would evaluate the various e-journals, articles and books foe collecting secondary data for the current research context. The researcher would also access the various online archives of Australian woollen industry to collect the secondary data. In the addition, Ferrari (2010) stated that a special focus has to be placed by the researcher on the relevant sources to avoid the data duplicity issue. Furthermore, a relevant code of conduct is required to be preserved by the research associate during investigating any research. Considering the fact, the research associate would need to maintain the confidentiality of the source of the data collection. As per the opinion of Rauch (2012), it is essential to inspect that no data would be applied for hampering the image of the Australian exporting industry. The research associate would require keeping a focus on the network failure and accessibility issues while gathering the data for the current study (Steeleworthy, 2014). Additionally, the required data for the research would need to be maintained separately to ensure the data integrity. Moreover, no research data could have been commercially used. References: (Economist, T. (2015) A prized yarn from Australia. Available at: https://www.economist.com/news/asia/21663247-lost-merino-recalls-fatter-years-when-australias-wealth-was-wool-prized-yarn-australia (Accessed: 24 August 2016)). (Trivedi, S. (2007) Indias wool imports from Australia growing at 17%. Available at: https://www.business-standard.com/article/economy-policy/india-s-wool-imports-from-australia-growing-at-17-107062601075_1.html (Accessed: 24 August 2016)). Australia, C. of, Statistics, A. B. of. (2012, May 24). Main features - farming in Australia. 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