Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
The Australia- U.S. Free Trade Agreement (AUSFTA)
The AUSFTA, as mentioned previously in the document, provides major benefits for both countries through removal of tariffs and the phased opening of markets. More information can be found on the website of the Department of Foreign Affairs and Trade (https://www.dfat.gov.au/trade/about-ftas/about-free-trade-agreements), the Office of the United States Trade Representative, and the FTA Help Center
The Closer Economic Relations Trade Agreement (ANZCERTA, or CER) is the main instrument that governs economic relations between Australia and New Zealand. It is a comprehensive agreement, prescribing that all bilateral trade and services originating in the two countries is free of tariffs, quantitative restrictions, anti-dumping measures, production subsidies, and like measures.
Australia has free trade agreements in force with:
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
- Hong Kong
- New Zealand (CER)
- The United States
Australia is also pursuing FTAs with several other parties including the European Union, Gulf Cooperation Council, India, and the United Kingdom. Agreement in principle with the United Kingdom was achieved on June 17, 2021. Australia is an active member of the WTO, making regular submissions to trade negotiation rounds. Australia is a key member of the Asia Pacific Economic Cooperation (APEC) forum and plays a leading role in promoting trade liberalization among the member economies. Australia exports approximately 76% of its goods and services to APEC economies. Australia is also a leading member of the Cairns Group of 19 agricultural exporting countries.