Negotiations on this free trade agreement between the 10 ASEAN governments and those of Australia and New Zealand were concluded in Singapore in August 2008. The agreement was subsequently signed in February 2009 and came into force on 1 January 2010.
The ASEAN-Australia-New Zealand FTA (AANZFTA) envisions a regional common market by 2015, and marks the first time that Australia and New Zealand have been involved jointly in negotiating an FTA with third countries. It was also the first time ASEAN embarked on comprehensive FTA negotiations covering all sectors, including goods, services, investment and intellectual property, simultaneously.
The Textile Clothing & Footwear Union of Australia opposed the deal because of the impact of further trade liberalization on these manufacturing sectors and workers in Australia, and human rights concerns regarding Burma. Both the Green Party of New Zealand and human rights activists raised concerns about agreements with some ASEAN governments because of their human rights records. In the ASEAN countries, numerous activist groups also protested the rush into this FTA, especially during a global economic crisis that is hitting local workers hard.
last update: May 2012
Photo: Daveandlolo/CC BY 2.0
Lack of information, coupled with procedural problems, discouraged companies from fully taking advantage of the potential benefits of a free-trade scheme in the Association of Southeast Asian Nations (Asean), a working paper authored by trade experts from the Asian Development Bank (ADB) revealed.
Australia’s free trade agreement with ASEAN is in effect, but Nationals leader Warren Truss sees the deal as a one-way street
Australia’s free trade agreement with New Zealand and members of the Association of Southeast Asian Nations came into effect, removing tariffs on grape exports to Malaysia and wheat sales to the Philippines.
Australia is looking forward to a comprehensive free trade agreement (FTA) with Malaysia but has set no timeframe to conclude negotiations on it.
Prime Minister John Key will discuss a new Asia-wide trade agreement in Thailand this weekend.
The free trade agreement between New Zealand, Australia and the Association of Southeast Asian Nations may lead to new layers of complexity in future negotiations.
The Philippine government could lose as much as P600 million annually in foregone revenues if tariffs on dairy products are removed under the Association of Southeast Asian Nations-Australia-New Zealand Free Trade Agreement (AANZFTA), an industry group said yesterday.
While not part of the official AANZFTA negotiations, the Philippine government is preparing to ratify the free-trade agreement it signed as a member of ASEAN with the governments of Australia and New Zealand.
At a time when New Zealand needs the flexibility to respond to pressing domestic economic priorities, and with fresh questions being raised in Australia about the value of their free trade agreements, now was not the time to be signing away New Zealand’s economic sovereignty, Professor Jane Kelsey told a select committee this morning considering the ASEAN-Australia-New Zealand free trade agreement.
Australia’s biggest ever free trade agreement has been branded as mediocre by one of the first detailed reviews of the deal.