Impact on the Australian Capital Territory for trade in goods and services

Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA)

17 November 2010

1. Trade in goods

Australian Capital Territory merchandise exports to the world (calendar year 2009): $9 million. Principal exports:

The following analysis summarises tariff outcomes under the Agreement Establishing the ASEAN-Australia-New Zealand FTA (AANZFTA) for Indonesia, Malaysia, the Philippines and Vietnam for some of the Australian Capital Territory' principal exports. These are the four largest AANZFTA markets with which Australia does not already have a bilateral FTA.

It should be noted that the Australian Capital Territory' trade is dominated by services and that exports of goods are very small. Given the small size of trade, this fact sheet uses the Australian Capital Territory' merchandise exports to the world rather than ASEAN.

The tariff outcomes in AANZFTA on the type of products that the Australian Capital Territory has exported in recent years include:

Measuring and Analysing Instruments

Gold Coin and Legal Tender Coin

Optical Instruments

Heating and Cooling Equipment and Parts

2. Trade in services opportunities for the Australian Capital Territory

Services exporters in the Australian Capital Territory are in a strong position to access the growing services markets in ASEAN. Exports of services to the world, which were worth $1 billion in 2009, account for 99 per cent of the Territory' total exports.

Under AANZFTA, ASEAN countries have made substantial, commercially meaningful improvements on existing WTO commitments in a range of services sectors – including education and professional services – where ACT providers have strong capabilities. For example:

1 These are the four digit heading or the six digit sub-heading of the tariff system for goods that the Australian Capital Territory has exported to the world in recent years.