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
Malaysia and New Zealand have agreed on upgrading the regional ASEAN-Australia-New Zealand FTA (AANZFTA), which is undergoing a comprehensive review, Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said.
ASEAN trade officials, along with its six partners, kicked off talks on a regional trade agreement in Bandar Seri Begawan, Brunei Darussalam, on Thursday. The talks began with the establishment of the trade negotiating committee that would discuss various trade and investment issues until next Monday, Trade Ministry director general for international trade cooperation Iman Pambagyo said.
Despite the free trade agreement between New Zealand and Indonesia which came into force early this year there is still much to do to remove barriers to trade between the two countries, Prime Minister John Key says.
New Zealand expects Indonesia to improve its trade and investment climate to allow both countries to reap greater benefits from a recently implemented free trade agreement (FTA) among the Association of Southeast Asian Nations (ASEAN), Australia and New Zealand.
Although politicians are trumpeting the agreement as a major advance, Australasia will be the prime beneficiary getting easier access to ASEAN markets — around 625 million people.
Indonesia will sign the ASEAN-Australia-New Zealand free trade agreement (FTA) tomorrow.
Indonesia is ready to soon implement a free trade agreement with Australia and New Zealand as part of a free trade pact signed by ASEAN and the two countries.
Filipino exporters are encouraged to take advantage of reduced tariffs under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) to increase their exports of goods and services to Australia, the world’s 13th largest economy.
Indonesia’s Industry Minister MS Hidayat has asked for a postponement of the free-trade agreement between Indonesia, Australia and New Zealand to allow for further study.
Indonesia’s restriction on beef imports from New Zealand is aimed at protecting local breeders, a spokesman of the Trade Ministry said, as the dispute goes to the upcoming ASEAN-Australia-New Zealand FTA forum.