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Australia, NZ join ASEAN FTA

10/28/2009 10:35:41 AM

The ASEAN-Australia-New Zealand Free Trade Agreement will come into force 01 January 2010, following discussion between ASEAN leaders at the East Asia Summit in Thailand late October.

 

The Free Trade Agreement will establish the ASEAN-Australia-New Zealand Free Trade area, spanning 12 economies with more than 600,000 million people and a combined GDP of US$3.1 trillion.  The Agreement covers 20 per cent of Australia's two-way trade, worth US$112 billion and will eliminate tariffs on 90 per cent of Australia's current exports to ASEAN nations by 2020.

 

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