Free trade agreements of Australia

Australia is party to 18 free trade agreements (FTAs) worldwide covering 30 economies.^[1]^[2]

History

Post-War Era (1940s-1960s):

Australia was a founding member of the General Agreement on Tariffs and Trade (GATT) in 1947, which aimed to promote international trade by reducing tariffs and other trade barriers. The focus during this period was primarily on multilateral trade negotiations rather than bilateral agreements.

Bilateral Agreements (1980s-1990s):

The Australia-New Zealand Closer Economic Relations Trade Agreement (ANZCERTA), signed in 1983, marked a significant step towards bilateral trade agreements, creating a single economic market between the two nations. The 1990s saw Australia engaging in further bilateral agreements, including those with countries in the Asia-Pacific region.

Asia-Pacific Focus (2000s):

The Australia-Singapore Free Trade Agreement (ASFTA) was signed in 2003, followed by agreements with Thailand and the United States (Australia-United States Free Trade Agreement, AUSFTA) in 2005. These agreements aimed to strengthen economic ties and promote trade in goods and services.

Regional Agreements (2010s):

The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), effective in 2010, expanded trade relations with Southeast Asian countries. In 2018, Australia became a signatory to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes several key economies in the Asia-Pacific region.^[1]

Free trade agreements in force

Australia has bilateral and multilateral free trade agreements with the following blocs and countries:^[3]

Bilateral agreements

New Zealand: Closer Economic Relations (1983)^[4]
Singapore: Singapore-Australia Free Trade Agreement (SAFTA) (2003)
United States: Australia-United States Free Trade Agreement (AUSFTA) (2005)
Thailand: Thailand-Australia Free Trade Agreement (TAFTA) (2005)
Chile: Australia-Chile Free Trade Agreement (ACl-FTA) (2009)
Malaysia: Malaysia-Australia Free Trade Agreement (MAFTA) (2013)
South Korea: Korea-Australia Free Trade Agreement (KAFTA) (2014)
Japan: Japan-Australia Free Trade Agreement (JAEPA) (2015)
China: China-Australia Free Trade Agreement (ChAFTA) (2015)
Hong Kong: Australia-Hong Kong Free Trade Agreement (A-HKFTA) (2020)
Peru: Peru-Australia Free Trade Agreement (PAFTA) (2020)
Indonesia: Indonesia- Australia Comprehensive Economic Partnership Agreement (IA-CEPA) (2020)
India: Australia-India Economic Cooperation and Trade Agreement (ECTA) (2022)
United Kingdom: Australia-United Kingdom Free Trade Agreement (A-UKFTA) (2023)

Multilateral agreements

ASEAN Australia NZ FTA (2009),^[5] with:
- Association of Southeast Asian Nations
- New Zealand
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) (2018),^[6] with:
- Brunei
- Canada
- Chile
- Japan
- Malaysia
- Mexico
- New Zealand
- Peru
- Singapore
- United Kingdom (2024)
- Vietnam
PACER Plus (2020),^[7] with:
- Cook Islands
- Kiribati
- New Zealand
- Niue
- Samoa
- Solomon Islands
- Tonga
- Tuvalu
- Vanuatu
Regional Comprehensive Economic Partnership (RCEP) (2022),^[8] with:
- Brunei
- Cambodia
- China
- Japan
- New Zealand
- South Korea
- Laos
- Thailand
- Malaysia
- Singapore
- Vietnam

Free trade agreements under negotiation

European Union: Australia-European Union Free Trade Agreement, entered negotiations in 2019, suspended since 2023.^[9]
United Arab Emirates: Australia-UAE Comprehensive Economic Partnership Agreement, negotiations starting in 2024.^[10]
India: Australia-India Comprehensive Economic Cooperation Agreement (CECA), negotiating since 2011, suspended from 2016 to 2022.^[11]

References

^ ^a ^b "Free trade agreements | Austrade". austrade.gov.au. Retrieved 8 September 2024.
^ "About free trade agreements (FTAs)". Department of Foreign Affairs and Trade. Retrieved 9 September 2024.
^ "Australia's free trade agreements (FTAs)". Department of Foreign Affairs and Trade. Retrieved 9 September 2024.
^ Australia and New Zealand Closer Economic Relations – NZ Ministry of Foreign Affairs and Trade
^ "ASEAN Australia New Zealand FTA (AANZFTA)". Retrieved 22 January 2019.
^ "Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)". Retrieved 22 January 2019.
^ "PACER Plus". Retrieved 19 August 2024.
^ "Regional Comprehensive Economic Partnership (RCEP)". Retrieved 2 March 2022.
^ Heydon, Ken (29 November 2023). "Australia's troubled EU trade deal still second best". East Asia Forum. Retrieved 9 September 2024.
^ "Australia says it will begin trade talks with UAE in 2024". Reuters. 13 December 2023. Retrieved 9 September 2024.
^ "Australia-India Comprehensive Economic Cooperation Agreement (CECA)". Department of Foreign Affairs and Trade. Retrieved 9 September 2024.

External links

Australia Department of Foreign Affairs and Trade – Official site

[:0-1] "Free trade agreements | Austrade". austrade.gov.au. Retrieved 8 September 2024.

[2] "About free trade agreements (FTAs)". Department of Foreign Affairs and Trade. Retrieved 9 September 2024.

[3] "Australia's free trade agreements (FTAs)". Department of Foreign Affairs and Trade. Retrieved 9 September 2024.

[4] Australia and New Zealand Closer Economic Relations – NZ Ministry of Foreign Affairs and Trade

[5] "ASEAN Australia New Zealand FTA (AANZFTA)". Retrieved 22 January 2019.

[6] "Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)". Retrieved 22 January 2019.

[7] "PACER Plus". Retrieved 19 August 2024.

[8] "Regional Comprehensive Economic Partnership (RCEP)". Retrieved 2 March 2022.

[9] Heydon, Ken (29 November 2023). "Australia's troubled EU trade deal still second best". East Asia Forum. Retrieved 9 September 2024.

[10] "Australia says it will begin trade talks with UAE in 2024". Reuters. 13 December 2023. Retrieved 9 September 2024.

[11] "Australia-India Comprehensive Economic Cooperation Agreement (CECA)". Department of Foreign Affairs and Trade. Retrieved 9 September 2024.

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