Fast facts about ASEAN-Australia-New Zealand FTA

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• The AANZFTA Parties comprise the ten ASEAN members
  (Brunei Darussalam, Cambodia, Indonesia, Laos,
  Malaysia, Myanmar, The Philippines, Singapore, Thailand and Vietnam)
  together with Australia and New Zealand.
• By including provisions covering trade in goods and
  services, together with investment, intellectual property,
  competition and economic cooperation, AANZFTA becomes
  the most comprehensive FTA that ASEAN has negotiated.
• AANZFTA provides for the progressive reduction or
  elimination of tariffs over specified periods and the
  scheduling of market access commitments for services by each
  of the parties.
• AANZFTA allows for greater certainty and transparency for
  those trading and investing in the region.
• First time for Australia in an FTA that economic
  cooperation has been included to help AANZFTA Parties
  implement their obligations. A work program will be carried out over five years with an estimated cost of $20-25 million. Australia is prepared to make an appropriate funding contribution to this cost.
• The level of development of ASEAN members is reflected in differential time
  frames for implementing certain FTA commitments.
• Australia and New Zealand will typically have the
  shortest implementation time frames and the three Least
  Developed Country members (Cambodia, Laos and Myanmar) the
  longest.
• Australia has existing FTAs with Singapore and
  Thailand. Australia has commenced FTA negotiations with
  Malaysia, and has a long-standing comprehensive FTA with New
  Zealand (ANZCERTA). The provisions of AANZFTA ensure
  that it can have no impact on those existing FTAs.
• The FTA strengthens Australia's economic and
  strategic engagement with the ASEAN region.
• The FTA will deliver real commercial benefit for
  Australian exporters and investors.
• AANZFTA provides a platform for securing further
  liberalisation of trade and investment in the
  future.
• The FTA helps to grow Australia's trade and
  investment relationships.