For example, rules issued by the Board under HOEPA apply to all lenders but are enforced – depending on the lender – by the Federal Trade Commission, state regulators, or one of the five federal regulators of depository institutions. To achieve uniform and effective enforcement, cooperation and coordination are essential.
With Australia’s strong history of agricultural production, this is another area where we have an advantage. The overall impact of this growth and urbanisation of Asia can be clearly seen in Australia’s international trade statistics. The four largest markets for our exports in 2009 were China, Japan, India and South Korea (Graph 8).