• Pro-competitive regulatory frameworks for Australian and
  US companies
• High standards of transparency and WTO-plus rules on
  major suppliers
• New avenue for consultations with the US on market access
  issues
• Embraces market-based regulatory approach where markets
  function effectively

Summary

This chapter builds on WTO rules in relation to major
suppliers of telecommunications that control essential
facilities or have a dominant position in a market. The
Parties must prevent anti-competitive conduct and ensure that
major suppliers provide interconnection, resale of services,
leased circuit services and co-location of equipment on
reasonable, non-discriminatory terms and conditions.

There are strong provisions on transparency and review for
regulatory decisions. Regulators must be
independent and impartial and properly explain decisions, such
as determining which services are subject to regulation and
licensing decisions. Australia and the United States
have also embraced a hands-off regulatory approach where
markets are functioning competitively.

There are two side letters. The first letter
establishes regular consultation on issues and developments in
the communications and IT sectors. This will give
government and industry greater understanding of these dynamic
sectors. The second letter outlined the Government's
policy in relation to government ownership of Telstra.