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The ASEAN–Australia–New Zealand Free Trade Agreement

ASEAN, Australia, New Zealand flags

Fast facts about ASEAN-Australia-New Zealand FTA

This fact sheet is also available in PDF [PDF 5 K]

  • The AANZFTA Parties comprise the ten ASEAN members
    (Brunei Darussalam, Cambodia, Indonesia, Laos,
    Malaysia, Myanmar, 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 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 (Cambodia, Laos and Myanmar) 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.
    • The FTA strengthens Australia's economic and
      strategic engagement with the ASEAN region.
    • The FTA will deliver real commercial benefit for
      Australian exporters and investors.
    • AANZFTA provides a platform for securing further
      liberalisation of trade and investment in the
      future.
    • The FTA helps to grow Australia's trade and
      investment relationships.
Last Updated: 5 February 2013
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