Declaration of Intent on reviews of services and investment commitments signed in Canberra
On 24 March 2017, the Minister for Trade, Tourism and Investment, Steven Ciobo, and Chinese Commerce Minister, Zhong Shan, signed a Declaration of Intent regarding Review of Elements of the China-Australia Free Trade Agreement, in the presence of Prime Minister Turnbull and Chinese Premier Li at Parliament House in Canberra. The Declaration announced the commencement of reviews of services and investment commitments under ChAFTA, as well as a review of the operation of the Investment Facilitation Arrangement MOU concluded alongside the Agreement.
ChAFTA already supports increased services trade and investment flows in both directions by providing increased legal certainty on access conditions for Australian services exporters and investors. Following the services and investment reviews, we expect to commence negotiations with China promptly with the aim of further reducing barriers to trade in services and agreeing on additional protections for investors.