All these free trade agreements are now taking place at the same time as the AANZFTA, in addition to Singapore`s close economic partnership (2000). AANZFTA has also allowed us to open our markets and expand our trade in six countries where we do not have bilateral free trade agreements, including Indonesia, the Philippines and Vietnam, but also Myanmar, Brunei and Laos. In addition to the free trade agreement, New Zealand has agreements with the Philippines and Vietnam to allow temporary employment in New Zealand. Since then, New Zealand has set up a Working Holiday Scheme with both countries. In parallel with the AANZFTA negotiations, New Zealand has successfully concluded bilateral free trade agreements with Thailand (2005) and Malaysia (2010). More recently, New Zealand has also successfully finalized and ratified the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which includes Vietnam, Singapore, Brunei Darussalam, Malaysia and Australia. AANZFTA is Australia`s first multi-country free trade agreement. This is the first time that Australia and New Zealand have participated together in the negotiations of a free trade agreement with third countries. This is the first time ASEAN has entered into negotiations for a free trade agreement in all sectors, including goods, services, investment and intellectual property.
This is the most comprehensive trade agreement ever negotiated by ASEAN. AANZFTA is a free trade agreement between the Association of Southeast Asian Nations (ASEAN), Australia and New Zealand. The number of countries participating in the AANZFTA makes this agreement New Zealand`s largest multi-lateral free trade agreement and an important part of the development of our relations with Southeast Asia. Find out how our other free trade agreements compare with ASEAN members. We are negotiating a revaluation of our existing free trade agreement with ASEAN to modernize it, further reduce export barriers and boost trade in the region. AANZFTA wanted to link the ASEAN Free Trade Area (AFTA) to the Australia-New Zealand (CER) Agreement on Closer Economic Relations. This resulted in the AFTA-CER Closer Economic Partnership Agreement (CEP). The main objective of the agreement was to deepen economic integration through a work programme focused on trade facilitation and capacity building, but provided little comprehensive trade coverage.
For more information on the AANZFTA agreement as well as economic cooperation, resources, news and events, visit the AANZFTA website.