ASEAN-Australia-New Zealand Free Trade Area (AANZFTA)

Country / jurisdiction: Australia · Year: 2010 · Status: In force · Level: International · Type: Voluntary

The Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) gradually came into force :

January 2010: in Australia, New Zealand (Agreement supplemented by the existing Australia-New Zealand Closer Economic Relations Trade Agreement), Brunei, Myanmar, Malaysia, the Philippines, Singapore (supplemented by existing Singapore-Australia FTA), and Vietnam

March 2010: in Thailand (Agreement supplemented by existing Thailand-Australia FTA)

January 2011: in Laos, Cambodia

January 2012: in Indonesia

The Agreement eliminates or reduces border tariffs on:

Electric generation equipment

Mechanical equipment including pumps, appliances and other advanced machinery

Electric motors, transformers, batteries and capacitors

Motor vehicles and vehicle parts (except for motor vehicle imports into Myanmar and Vietnam)

Mineral ore and processed products including graphite, manganese, copper, aluminium and nickel

Various products manufactured using the above minerals and metals such as sheets, powders, bars, and plates

Photovoltaic cells

The Agreement also includes rules of origin and local content provisions. Goods are considered as originating from a signatory country, and thus benefitting from preferential tariff treatment if:

they are wholly produced or obtained in the country

they qualify for a change in HS code as defined for each good

they meet minimum regional value content requirements

The Agreement forbids investment barriers related to export quotas, domestic content requirements, technology transfer, and other non-tariff barriers. National treatment and most-favoured nation treatment provisions in the Agreement also require investors from either Party to be treated equally to both domestic investors or those from any other nations.

However, the Agreement allows Parties party to provide additional benefits or advantages linked to the following specific endeavours:

Location of production in the domestic territory

Supply of a specific service

Training and employment of workers

Construction or expansion of certain facilities

R&D activities

Official source: https://www.dfat.gov.au/trade/agreements/in-force/aanzfta/asean-australia-new-zealand-free-trade-agreement