How Many Trade Agreements Does Australia Have
Join the many Australian companies already benefiting from the Australian Free Trade Agreement. Free trade agreements also offer other benefits to Australia. They can be negotiated and implemented more quickly than multilateral agreements and can play an important role in creating and enforcing liberalisation rules for non-WTO trade and investment issues. Free trade agreements allow Australian exporters and investors to enjoy the same preferential access, or better preferential access, enjoyed by exporters and investors of our competitors. Free trade agreements have integrated work programs and revision agreements that will come into force after coming into force and that will allow Australia to achieve greater results under the free trade agreement over time. For example, we completed the third revision of our free trade agreement with Singapore in 2016 and its results came into force in 2017. This updated free trade agreement now has the added benefit that these are issues of long-standing economic interest for Australian service providers in areas such as education. Free trade agreements provide a mechanism to facilitate trade in goods. Each agreement contains information and links to legislation, guidelines and opinions on rules of origin and access to preferential rates. Learn about tariff results and rules of origin for Australia`s free trade agreements through the FTA online portal. To date, the EU and Australia have maintained their trade and economic relations under the 2008 EU-Australia partnership. The aim is to facilitate trade in industrial products between the EU and Australia by removing technical barriers and improving trade in services and investment.
The World Trade Organization (WTO) remains the basis of Australia`s trade policy. Australia continues to work with other WTO members on the Doha post-round negotiating agenda. Australia also relies heavily on WTO rules and other key WTO tasks, such as the dispute settlement system, to maintain a predictable and stable global trading environment. The White Paper on Foreign Policy launched by Prime Minister Turnbull on November 23, 2017, confirmed that Australia would continue to be an active bilateral, regional and multilateral advocate for an open global economy opposed to protectionism. The White Paper also endorsed Australia`s ambitious approach to negotiating and implementing regional and bilateral free trade agreements to ensure Australia`s future prosperity and set a target of having more than 80% of Australia`s total trade with free trade countries in the free trade agreement by 2020 (currently, Australia`s ten free trade agreements cover about two-thirds of our total trade). Nine of Australia`s 10 free trade agreements came into force in 2003 and the benefits australia derives from free trade agreements will continue to increase as more of these agreements are negotiated and implemented in the future.