ASEAN-Australia-New Zealand Free Trade Agreement snapshot (including Australia)
- GDP: US$4.1 trillion (2013)
- GDP per capita: US$6,263 (2013)
- Population: 653.6 million (2013)
- Trade with Australia: $113.9 billion (2013)
The First Protocol
The First Protocol was signed by Ministers on 26 August 2014. For more information and an invitation for business to provide input please see the News tab.
The Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is Australia’s most ambitious trade deal to date. The countries of ASEAN - Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam - constitute one of the most dynamic economic regions in the world. And what’s more, it’s right on Australia’s doorstep.
AANZFTA is Australia’s first multi-country FTA. It is the first time Australia and New Zealand have been involved jointly in negotiating an FTA with third countries. It is the first time ASEAN has embarked on FTA negotiations covering all sectors including goods, services, investment and intellectual property simultaneously. This makes it the most comprehensive trade agreement that ASEAN has ever negotiated.
AANZFTA will deliver real commercial benefit for Australian exporters and investors.
Key interests and benefits
- Extensive tariff reduction and elimination commitments.
- Regional rules of origin will provide new opportunities for Australian exporters to tap into international supply chains in the region.
- Promotes greater certainty for Australian service suppliers and investors, including through certain legal protections for investment in ASEAN territories.
- Provides a platform for ongoing economic engagement with ASEAN through a range of built-in agendas, economic cooperation projects and business outreach activities.
AANZFTA: overview and key outcomes