Free Trade Agreements (FTAs)
Australia has concluded seven bilateral and regional trade agreements:
- Malaysia-Australia Free Trade Agreement (MAFTA) 2013
- Australia-Chile Free Trade Agreement (AClFTA) 2009
- Australia-United States Free Trade Agreement (AUSFTA) 2005
- Thailand-Australia Free Trade Agreement (TAFTA) 2005
- Singapore-Australia Free Trade Agreement (SAFTA) 2003
- Australia-New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) 1983
- ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) 2010
Australia has signed two agreements which will enter into force once domestic processes for both parties are complete:
- Korea-Australia Free Trade Agreement (signed April 2014)
- Japan-Australia Economic Partnership Agreement (signed July 2014)
Australia is undertaking FTA negotiations with:
- Trans-Pacific Partnership members (Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, USA, Vietnam)
- Regional Comprehensive Economic Partnership members (ASEAN, China, India, Japan, Republic of Korea and New Zealand)
- Pacific Agreement on Closer Economic Relations members (Cook Islands, Micronesia, Kiribati, Nauru, New Zealand, Niue, Palau, Papua New Guinea, Republic of Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu)
- The Gulf Cooperation Council (Saudi Arabia, Qatar, Bahrain, Oman, Kuwait, United Arab Emirates)
More information on Australia's FTAs can be found at: www.fta.gov.au
Free Trade Agreement negotiations
Across the globe, there is an expanding network of FTAs. High-quality, comprehensive FTAs can play an important role in supporting global trade liberalisation and are explicitly allowed for under the WTO rules.
FTAs can cover entire regions with multiple participants or link just two economies. Under these agreements, parties enter into legally binding commitments to liberalise access to each others' markets for goods and services, and investment. FTAs also typically address a range of other issues such as intellectual property rights, government procurement and competition policy.
The Government will not enter into any trade agreement that falls short of the benchmarks set by the WTO or the benchmarks we set ourselves of high‑quality, truly liberalising trade deals that support global trade liberalisation.
The countries covered by the FTAs that Australia currently has in force, including the recently concluded agreements with Japan and Korea, account for 42.2 per cent of our total trade. An additional 30.9 per cent of Australia's total trade occurs with countries with which we are currently negotiating FTAs.
FTAs are helping Australian exporters access new markets and expand trade in existing markets.
For more information visit: www.fta.gov.au