Fast facts about ASEAN-Australia-New Zealand FTA
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- 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
- 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
- The FTA helps to grow Australia's trade and
Last Updated: 5 February 2013