New Australia/Asia Free Trade Agreement Talks Begin

With the US/Australia free trade agreement now firmly in place (it came into operation on January 1st this year), Australia is this week commencing negotiations with the 10 countries of South-East Asia (known as the ASEAN countries) and New Zealand on a free trade deal.

It is anticipated that the talks will outline a two year agenda for the 12 countries to reach agreement. The FTA will encompass a free trade deal covering goods, services and investment. The final agreement is planned to operate for 10 years to 2017.

The potential for more trade between Australia and the ASEAN countries is significant. At present these countries take 12% of Australia's goods exports and 15% of services exports. The combined population of the ASEAN region is around 545 million.

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David
mailto:david.taylor@agarcarlyon.com