 Australia has pursued the cause of international trade liberalisation . It led the formation of the Cairns Group and Asia @-@ Pacific Economic Cooperation . Australia is a member of the Organisation for Economic Co @-@ operation and Development and the World Trade Organization , and has pursued several major bilateral free trade agreements , most recently the Australia – United States Free Trade Agreement and Closer Economic Relations with New Zealand , with another free trade agreement being negotiated with China — the Australia – China Free Trade Agreement — and Japan , South Korea in 2011 , Australia – Chile Free Trade Agreement , and as of November 2015 has put the Trans @-@ Pacific Partnership before parliament for ratification . 
