In parallel with the AANZFTA negotiations, New Zealand successfully concluded bilateral negotiations on free trade agreements with Thailand (2005) and Malaysia (2010). Recently, New Zealand has also successfully concluded and ratified the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which also includes Vietnam, Singapore, Brunei Darussalam, Malaysia and Australia. AANZFTA has played an important role in the growth of New Zealand trade in the ASEAN region. Since the implementation of AANZFTA in 2010, mutual trade between New Zealand and ASEAN has increased by almost 30%, an increase of more than $6 billion. In addition to the free trade agreement, New Zealand has agreements with the Philippines and Vietnam to allow temporary entry into work in New Zealand. Since then, New Zealand has set up a Working Holiday Scheme with both countries. We are negotiating an upgrade of our existing free trade agreement with ASEAN in order to modernize it, further reduce export barriers and boost trade in the region. AANZFTA has brought considerable benefits to New Zealand exporters in a number of sectors. By 2020, tariffs on 99% of New Zealand travel to Indonesia, Malaysia, the Philippines and Vietnam will be eliminated. These include the removal of tariffs on New Zealand exports of milk, beef, timber, apples and kiwi. Based on the level of trade at the time of signing AANZFTA, this represents an annual customs saving of approximately $50 million. Austrade has detailed information on business in New Zealand and ASEAN countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. AANZFTA was the first plurilateral negotiation of a free trade agreement that New Zealand and Australia have begun as a joint party.
It was also the first time that ASEAN entered into comprehensive negotiations on a free trade agreement covering all sectors at the same time. Discover the comparative results of our other free trade agreements with ASEAN members. AANZFTA has also allowed us to open our markets and expand our trade to six countries where we do not have bilateral free trade agreements – mainly Indonesia, the Philippines and Vietnam, but also Myanmar, Brunei and Laos. AANZFTA is Australia`s first transnational free trade agreement. This is the first time that Australia and New Zealand have participated together in the negotiations for a free trade agreement with third countries. This is the first time that ASEAN has begun negotiations on free trade agreements covering all sectors simultaneously, including goods, services, investment and intellectual property. It is therefore the most comprehensive trade agreement ever negotiated by ASEAN. The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is an agreement that includes one of the world`s most dynamic economic regions.
AANZFTA is a free trade agreement between the Association of South Asian Nations (ASEAN), Australia and New Zealand. A regional dialogue on the development of negative list plans, composed of about thirty trade negotiators. In 2004, the Heads of State and Government announced their decision to enter into formal negotiations on AANZFTA. Subsequent negotiations were concluded in 2008, with AANZFTA entering into force in 2010 for New Zealand and for all other parties in January 2012. . . .