About the Korea-Australia FTA
The Korea-Australia Free Trade Agreement (KAFTA) entered into force on 12 December 2014.
KAFTA supports one of the strongest and most complementary economic relationships in the Asia-Pacific region.
As a world-class and comprehensive bilateral agreement, KAFTA substantially liberalises Australia’s trade with its fourth-largest trade partner.
The Agreement protects and enhances the competitive position of Australia’s businesses in South Korea. Australian exporters gain significantly improved market access in goods, with tariff elimination on nearly all Australia’s current exports by value by full implementation of the Agreement. Under KAFTA, Australian services providers receive the best treatment Korea has agreed with any trade partner. Investment commitments in the Agreement protect and enhance investment in both directions.