ASEAN-Australia-New Zealand Free Trade Agreement snapshot (including Australia)
- GDP: US$3.9 trillion (2015)
- GDP per capita: US$5,948 (2015)
- Population: 658.2 million (2015)
- Trade with Australia: $120.0 billion (2015)
The Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) entered into force in January 2010. The countries of ASEAN – Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - belong to one of the most dynamic economic regions in the world. And what’s more, it’s right on Australia’s doorstep.
The First Protocol to Amend the AANZFTA is in force for 11 of the 12 Parties. For more information please see the for business tab.
AANZFTA is Australia’s first multi-country FTA. Negotiation of the AANZFTA was the first time Australia and New Zealand were involved jointly in negotiating an FTA with third countries. It was also the first time ASEAN embarked on comprehensive FTA negotiations covering all sectors simultaneously. This made it the most comprehensive trade agreement that ASEAN has negotiated to date.
AANZFTA is delivering real commercial benefit for Australian exporters and investors.
Key interests and benefits
- Extensive tariff reduction and elimination commitments.
- Regional rules of origin 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.