Australia is a prosperous, politically and economically stable, industrialized nation. Underpinning Australia's strong economy is its open and transparent trade and investment environment, business-friendly regulatory approach, and its trade and economic links with the Asian emerging economies. The U.S. - Australia Free Trade Agreement has provided some advantages for U.S. products, including offering a zero tariff rate for all U.S. food product imports entering Australia. U.S. products are well regarded for their quality and value. In 2015, Australia imported over US$1.5 billion of U.S. food and agricultural products, representing 10 percent of Australia’s total agricultural imports. Consumer oriented products accounted for over 75 percent of U.S. total agricultural exports last year.