Today, the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) Upgrade enters into force between Australia, New Zealand, Singapore, Malaysia, Laos PDR, and Brunei Darussalam. The Upgrade will enter into force for remaining ASEAN Member States 60 days after they notify of their completed respective domestic processes.
The Upgrade improves document processes for traders to access AANZFTA's existing tariff preferences. These preferences reduce or eliminate tariffs on approximately 97.7% of all tariff lines for Australian exports.
It also provides new market access commitments and regulatory certainty for service providers, new commitments on e-commerce and consumer protection, and new chapters on Trade and Sustainable Development and Micro-Small-and-Medium Enterprises.
Goods traders seeking to use AANZFTA should consult the 'Making use of AANZFTA to export or import goods guide' and FTA Portal.
Coming 15 years after the Agreement's original entry into force on 1 January 2010, AANZFTA's continued relevance underscores the importance of cooperative, collective and regional efforts to liberalise markets, expand the benefits of trade, and grow regional economic integration, for our mutual prosperity.
The AANZFTA Upgrade reinforces regional commitment to an open, rules-based, non-discriminatory trading system.
The Upgrade is formally known as the Second Protocol to Amend the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area.
