The Australia - ASEAN - New Zealand Free Trade Agreement

Fast Facts about ASEAN - Australia - New Zealand FTA

• The AANZFTA Parties comprise the ten ASEAN members (Burma, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, The Philippines, Singapore, Thailand and Vietnam) together with Australia and New Zealand

• By including provisions covering trade in goods and services, together with investment, intellectual property, competition policy and economic cooperation, AANZFTA becomes the most comprehensive FTA that ASEAN has negotiated.

• AANZFTA provides for the progressive reduction or elimination of tariffs over specified periods and the scheduling of market access commitments for services by each of the parties.

• AANZFTA allows for greater certainty and transparency for those trading and investing in the region.

• First time for Australia in an FTA that economic cooperation has been included to help AANZFTA Parties implement their obligations. A work program will be carried out over five years with an estimated cost of $20-25 million. Australia is prepared to make an appropriate funding contribution to this cost.

• The level of development of ASEAN members is reflected in differential time frames for implementing certain FTA commitments. 
• • Australia and New Zealand will typically have the shortest implementation time frames and the three Least Developed Country members (Burma, Cambodia and Laos) the longest.

• Australia has existing FTAs with Singapore and Thailand.  Australia has commenced FTA negotiations with Malaysia, and has a long-standing comprehensive FTA with New Zealand (ANZCERTA).  The provisions of AANZFTA ensure that it can have no impact on those existing FTAs.

• This fact sheet is also available in PDF

AANZFTA index page