News

November 2016

Second meeting of the Korea-Australia Free Trade Agreement Joint Committee

17 November 2016

The second meeting of the Korea-Australia Free Trade Agreement (KAFTA) Joint Committee was convened in Lima, Peru on 17 November 2016 in the margins of the APEC Ministerial Meeting. The meeting was co-chaired by the Minister for Trade, Tourism and Investment of Australia, Steven Ciobo and the Minister of Trade, Industry and Energy of the Republic of Korea (ROK), Hyunghwan Joo.

Second meeting of the Korea-Australia Free Trade Agreement Joint Committee

Korean delegates on one side of a meeting table and Australian delegates on the other side.

November 2015

First meeting of KAFTA Joint Committee

The first meeting of the Korea-Australia Free Trade Agreement (KAFTA) Joint Committee was convened in Manila on 16 November 2015 in the margins of the APEC Ministerial Meeting. The meeting was co-chaired by Justin Brown, Acting Deputy Secretary, Department of Foreign Affairs and Trade, and Tae-hee Woo, Deputy Minister for Trade, Ministry of Trade, Industry, and Energy.

First meeting of the Korea-Australia Free Trade Agreement Joint Committee

Acting Deputy Secretary Justin Brown and Korean Deputy Minister for Trade Tae-hee Woo shaking hands
Acting Deputy Secretary Justin Brown and Korean Deputy Minister for Trade Tae-hee Woo co-chair the first meeting of the KAFTA Joint Committee.

June 2015

The KAFTA Committee on Outward Processing Zones on the Korean Peninsula held its first meeting in Sydney on 2 June 2015. Senior officials from Australia and the Republic of Korea exchanged information and agreed to meet again later in 2015.

May 2015

The Mutual Recognition Agreement between Engineers Australia and the Korean Ministry of Science, ICT and Future Planning was signed on 6 May 2015 during the visit to Seoul of Parliamentary Secretary to the Minister for Trade and Investment, Steven Ciobo.

December 2014

KAFTA enters into force

The Korea-Australia Free Trade Agreement entered into force on 12 December 2014

Media release: Korea FTA unlocks opportunities for small business

KAFTA to enter into force on 12 December 2014

Following the exchange of diplomatic notes between Australia and South Korea on 3 December, KAFTA will enter into force on 12 December 2014.

Media release: Robb announces Korea FTA to take effect in 9 days


October 2014

Information sessions: How to access preferential tariff treatment under KAFTA

The Australian Customs and Border Protection Service (ACBPS) is hosting information sessions on how to access preferential tariff treatment under KAFTA when it enters into force.

Sessions will include information on how to identify the tariff commitments and rules of origin for your goods as well as an overview of the rules of origin chapters of KAFTA.

Sessions are free to attend and will be held at the following locations:

  • Perth: 17 November 2014, 9am to 12pm
  • Melbourne: 18 November 2014, 9am to 12pm
  • Sydney: 19 November 2014, 9am to 12pm
  • Brisbane: 20 November 2014, 9am to 12pm

To register, or to find out more about the session please email FTAeducation@customs.gov.au with your name, contact details and session preference.

Business Opportunities and KAFTA

The 'Korea: Business Opportunities and the FTA' seminar series will be held from 11–21 November in Perth, Sydney, Melbourne, Brisbane, Darwin and Adelaide.

The seminars will explore how the Korea-Australia Free Trade Agreement (KAFTA) will open up new opportunities for business in Australia's third largest export market. The series is jointly organised by Austrade and the Department of Foreign Affairs and Trade in partnership with state and territory governments and the Export Finance and Insurance Corporation (Efic).

Find out more and register: Korea: Business Opportunities and the FTA.

Parliament passes implementing legislation

Following passage of amendments to the Customs Act 1901 and the Customs Tariff Act 1995 by the Australian Parliament on 1 October, amendments to several regulations will shortly be submitted to Federal Executive Council (Exco) for approval. Once these processes have been completed, Australia will be ready to exchange notes with Korea to bring KAFTA into force.


September 2014

Joint Standing Committee on Treaties completes review and implementing legislation introduced to Parliament

The Joint Standing Committee on Treaties (JSCOT) tabled the report of its inquiry into the Korea-Australia Free Trade Agreement (KAFTA) in Parliament on 4 September 2014. JSCOT report 142 recommended that binding treaty action be taken.

The Government subsequently introduced legislation needed to implement the Agreement into Parliament on 4 September 2014. The Customs Amendment (Korea-Australia Free Trade Agreement Implementation) Bill 2014 and the Customs Tariff Amendment (Korea-Australia Free Trade Agreement Implementation) Bill 2014 and their explanatory memoranda were introduced into the House of Representatives by the Minister for Immigration and Border Protection, the Hon Scott Morrison MP.

Media release: Further milestones on implementation of the Korea-Australia FTA


May 2014

Tabling of the Korea-Australia Free Trade Agreement in the Australian Parliament

Minister Robb tabled the text of the Korea-Australia Free Trade Agreement with the National Interest Analysis in the Australian Parliament on 13 May 2014. The Agreement will now be considered by the Joint Standing Committee on Treaties (JSCOT). More information about JSCOT and details on how to make a submission.

The Senate Foreign Affairs, Defence and Trade References Committee is also conducting an inquiry into KAFTA and is receiving submissions. Further details on the inquiry into KAFTA.


April 2014

Signature of the Korea-Australia Free Trade Agreement

The Minister for Trade and Investment Mr Robb and his South Korean counterpart, the Minister for Trade, Industry and Energy Mr Yoon Sang-jick, signed the Korea-Australia Free Trade Agreement on 8 April 2014. The ceremony was witnessed by Australian Prime Minister Mr Abbott and his South Korean counterpart, President of South Korea Ms Park Geun-hye.

Media release: Korea-Australia FTA signed in Seoul

Trade Minister Robb at the formal signing of Korea Australia Free Trade Agreement (KAFTA) in Seoul.
Formal signing of Korea Australia Free Trade Agreement (KAFTA) in Seoul.

February 2014

Release of Korea-Australia Free Trade Agreement Text

The text of the Korea-Australia Free Trade Agreement (KAFTA) was released by the Trade and Investment Minister on 17 February 2014.

Media release: Public release of Korea-Australia FTA text, 17 February 2014

Korea-Australia FTA Initialled on 10 February 2014

Australian and Korean Chief Negotiators met in Canberra on 10 February to initial the final text of the Korea-Australia Free Trade Agreement (KAFTA), following the conclusion of negotiations in December 2013. Australia and Korea are now preparing for signature of the Agreement, anticipated to take place in the first half of 2014.

Read the Korea-Australia Free Trade Agreement Joint Statement

Deputy Secretary Jan Adams and Assistant Minister Taehee Woo initialling the final text of the agreement
Deputy Secretary Jan Adams and her Korean counterpart Assistant Minister, Taehee Woo, initial the final text of the Korea-Australia Free Trade Agreement.

December 2013

Conclusion of Negotiations

On 5 December 2013 Prime Minister Abbott announced the conclusion of negotiations on the Australia-Korea FTA. The agreement will see tariffs of up to 300 per cent eliminated on key Australian agricultural exports such as beef, wheat, sugar, dairy, wine, horticulture and seafood, as well as resources, energy and manufactured goods. It will also provide for opportunities in Korea for Australian services in education, telecommunications, and a range of professional services including financial, accounting and legal services.