Membership in International Unions
Whether it is an alliance, incorporated union, federal union or supranational body here is the list of unions the country is a member of. Australia is a member of several unions. They are Commonwealth of Nations, International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations, World Bank, World Trade Organization.
Commonwealth of Nations
Australia is a member of Commonwealth of Nations. On 11 December 1931 it was accepted into Commonwealth. The Commonwealth of Nations, or the Commonwealth, is an intergovernmental association of 53 independent and equal sovereign states that were mostly territories of the former British Empire. The Commonwealth includes some of the world's largest, smallest, richest and poorest countries, spanning five regions and is home to 2.2 billion citizens. The Commonwealth operates by intergovernmental consensus of the member states organised through the Commonwealth Secretariat. Thirty-one of its members are small states of which many are island nations.
International Monetary Fund
Australia is a member of International Monetary Fund. On 5 August 1947, it joined the IMF as a member. The IMF is an organization headquartered in Washington, D.C., of 189 countries working to foster global monetary cooperation, secure financial stability and facilitate international trade. The IMF now plays a central role in the management of balance of payments difficulties and international financial crises. The union is governed by and accountable to the all 189 member countries. As of 2010, the fund had SDR 476.8 billion (about US$ 755.7 billion).
Organisation for Economic Co-operation and Development
Australia is a member of Organisation for Economic Co-operation and Development. On 7 June 1971, it joined the OECD as a member. The Organisation for Economic Co-operation and Development (French: Organisation de coopération et de développement économiques, OCDE) is an international economic organisation of 34 countries, founded in 1961 to stimulate economic progress and world trade, and promote policies that will improve the economic and social well-being. It is a forum in which governments can work together to share experiences and seek solutions to common problems. OECD work with governments to understand what drives economic, social and environmental change. OECD measures productivity and global flows of trade and investment.
Australia is a member of United Nations. On 1 November 1945, it joined the UN at its inception date as a full member state. Founded in 1945, the United Nations is an intergovernmental organization to promote international co-operation. The work of the United Nations are guided by the principles contained in its founding Charter. It is currently made up of 193 Member States. The headquarters of the United Nations is in Manhattan, New York City, further main offices are situated in Geneva, Nairobi and Vienna. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing aid.
Australia is a member of World Bank. On 5 August 1947, it became a member of the World Bank Group. The World Bank is international financial institution that provides loans to developing countries. It's like a cooperative, made up of 189 member countries. These member countries are represented by a ministers of finance who are the ultimate policymakers at the World Bank. The World Bank's official goal is the reduction of poverty.
World Trade Organization
Australia is a member of World Trade Organization. On 1 January 1995, it joined the WTO as a member. The World Trade Organization is an intergovernmental organization which regulates international trade. At its core are the WTO agreements ratified in national parliaments. It is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence.