Understanding Free Trade Agreements
What is a Free Trade Agreement?
A Free Trade Agreement (FTA) is an agreement between two or more countries with the aim to increase the trade of services and products and access to investment between those countries – benefiting all of the countries involved.
By eliminating tariffs and removing quotas on goods that can be exported or imported a Free Trade Agreement gives Australian businesses unprecedented access to countries opening the door and stimulating local job creation and enriching Western Australia’s economy for generations to come.
Manager of International Trade Darren Levy discusses what Free Trade Agreements (FTA) actually are and what it means for doing business in WA and abroad.
"These are all ground-breaking deals that send a signal to the region and to the world that Australia is open for business." – Minister Andrew Robb
Each FTA is negotiated separately – while there are common elements each reflects the negotiating powers and the particular issues for the countries involved. As such – each is slightly different and care need to be taken when identifying opportunities.
At the moment Australia has ten FTAs currently in force with New Zealand, Chile, United States, Japan, Korea, Malaysia, Singapore, Thailand, China and the Association of South East Asian Nations (ASEAN) (with New Zealand).
The views expressed herein are not necessarily the views of the Commonwealth of Australia, and the Commonwealth does not accept responsibility for any information or advice contained herein.