Overview: The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA)

AANZFTA World Map

The twelve AANZFTA Parties include:

Australia                                         Myanmar
Brunei Darussalam                  New Zealand
Cambodia                                      Philippines
Indonesia                                       Singapore
Lao PDR                                         Thailand
Malaysia                                         Viet Nam

The AANZFTA is a comprehensive and single-undertaking free trade agreement that opens up and creates new opportunities for approximately 663 million peoples of ASEAN, Australia and New Zealand - a region with a combined Gross Domestic Product of approximately USD 4 trillion as of 2016. In line with the ASEAN Community Vision 2025 , the AANZFTA aims for sustainable economic growth in the region by providing a more liberal, facilitative and transparent market and investment regimes among the twelve signatories to the Agreement.

The Agreement has eighteen chapters and four annexes, covering various aspects of trade in goods, services and investment as well as competition and intellectual property rights. It also includes specific schedules of commitments on tariffs, specific services and movement of natural persons

Through the AANZFTA:

  • tariffs will be progressively reduced from entry into force of the Agreement, and eliminated for at least 90% of all tariff lines within specified timelines;
  • movement of goods will be facilitated via a more modern and flexible rules of origin, simplified customs procedures, and more transparent mechanisms;
  • barriers to trade in services will be progressively liberalised allowing for greater market access to service suppliers in the region;
  • movement of business persons, those engaged in trade and investment activities, will be facilitated; and
  • covered investments will be accorded a range of protection, including the possibility of dealing with disputes via an investor-state dispute settlement mechanism.

The ASEAN Secretariat

70A. Jalan Sisingamangaraja
Jakarta 12110

(+62 21) 726 2991, 724 3372

(+62 21) 726 2991, 724 3372

logo-ausaid
logo-newzealand-trans2

DISCLAIMER:  The ASEAN Secretariat shall not be held liable for any omissions or inaccuracies in the content of this website.  It shall not accept any liability for any claims, loss, or expenses that may arise or arising from use of information from this website.  Reliance on the information is at the reader’s or user's sole risk and responsibility.