South Korea - Australia Free Trade Agreement (KAFTA)

The world economy is a dynamic entity that is constantly changing. Part of these changes has been the process of internationalization, which reflects closer economic connections between individual countries. International ties are thus transforming from exclusively trade exchange to increasingly integrated components. This is a phenomenon that has a multidimensional level and is characterized by the growing complexity of trade exchange. Bilateral trade relations are one of the most widespread forms of cooperation, where integration leads to the harmonization of regulatory frameworks and the strengthening of strategic ties. The aim of the article is to describe the level of cooperation between Australia and South Korea. This research paper will attempt to examine the impact of the KAFTA trade agreement on selected sectors of the economy - meat and sugar, as strategic trade items.