Few countries have stuck alongside Israel for as long as Australia has. In 1948, Australia was one of the first countries to recognize the state of Israel formally. Over the last seventy years or so, the relationship has only become more robust. This all down to the considerable effort that both countries pour into ensuring that their countries remain closely linked on trade, culture, and finance.
The Australia-Israeli Cultural Exchange
Since 2003, Australia and Israel have been working closely together to create the Australia-Israel Culture Exchange.
Under this program, entertainers, artists, and writers from each nation head overseas to share their culture. This has allowed Israeli entertainers to perform in the Sydney Opera House and Australian entertainers to increase interest in Australian culture throughout Israel.
Programs like this have certainly helped to forge links between the two countries. After all, global relationships are built upon the backs of a mutual understanding of culture. The program has been so successful that there are even talks of expanding it over the next decade. This will result in Israeli culture having even more of a prominent role in Australia.
Due to the growing strength and intensity of financial and trade relations between the two countries, the volume of AUD / ILS trade increased significantly as, according to the information and statistics provided by by these Australian FX brokers, people started capitalizing on the exchange of the two currencies. This is easily one of the most solid currency pairings in this region.
Trade between the two countries is enormous. Each year, over $1-billion is exchanged over bilateral trade routes. With Australia providing easy access to countries like New Zealand, trade relations are only going to improve. Australia heavily relies on imports from Israel, with over $1-billion in goods and services being imported from Israel each year.
The growth in trade between the two countries is all thanks to forming the Australia-Israel Chamber of Commerce. This Government Organization is tasked with improving networking between businesses based in both countries. It is this organization that has helped to forge expansive trade deals. These trade deals have seen considerable rises in cross-country trade.
The job of the Australia-Israel Chamber of Commerce doesn't just stop with business relations, though. The organization also wants to boost the sharing of research and information between the two countries. This is almost certainly going to help bring the two even closer together.
It isn't just trade that is seeing huge sums of cash pass between the two countries. Israelis are investing heavily in Australia. In fact, in 2018/2019, Israelis invested over $1-billion into various developments throughout Australia. On the other hand, Australians were able to invest $300-million into Israel, which is certainly no small sum considering the size of Israel.
Australia and Israel have a relationship that has never faltered. Both countries are actively working with one another to create even closer ties. This is especially apparent through culture, trade, and financial deals. This is one of those cross-country relationships that we can only see getting stronger.