The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) Agreement was concluded and announced by Ministers in August 2008 in Singapore. It was signed on 27 February 2009.
The objectives of this Agreement are to:
liberalise and facilitate trade in goods;
progressively liberalise trade in services among the Parties, with substantial sectoral coverage;
||facilitate, promote and enhance investment opportunities among the Parties through further development of favourable investment environments;|
||establish a co-operative framework for strengthening, diversifying and enhancing trade, investment and economic links among the Parties; and|
||provide special and differential treatment to ASEAN Member States, especially to the newer ASEAN Member States, to facilitate their more effective economic integration.|
The AANZFTA Agreement is the first comprehensive free trade agreement that ASEAN has signed with a Dialogue Partner. It is also the only one that has commitments in all three pillars of goods, services and investments.
The agreement covers trade in goods; rules of origin; customs procedures; services (including financial and telecommunications services); electronic commerce; movement of natural persons; investments; sanitary and phytosanitary (SPS) measures; standards, technical regulations and conformity assessment procedures; intellectual property; competition; economic cooperation; and a dispute settlement mechanism.