ASEAN Signed The FTA With Australia And New Zealand
In the supermarket of Bangkok, Thailand, the leg of lamb from Australia and New Zealand is put out in the freezer for customers to choose at will. With the signing of the ASEAN free trade agreement with Australia and New Zealand, commodity trade between the 12 countries will be more convenient.
On the afternoon of February 27th, at the fourteenth ASEAN Summit held here, the ASEAN and the ministers of economy and Commerce of Australia and New Zealand gathered together to sign their names on the ASEAN free trade agreement with Australia and New Zealand, which means that a free trade area containing nearly 600 million people in 12 countries was formally formed.
The ASEAN free trade agreement negotiations with Australia and New Zealand started in 2004 and were announced in 2008. The agreement covers comprehensive trade in goods, investment, services and intellectual property rights. ASEAN countries will open markets for wine, beef and dairy products and tariff reductions to Australia and New Zealand, while ASEAN countries export clothing, footwear and automobiles to Australia and New Zealand.
For example, according to the agreement, 85% of the goods exported to New Zealand by ASEAN countries will enjoy zero tariff before 2010. Thailand and Australia and New Zealand have already signed bilateral free-trade agreements and are now expanding to multilateral levels. It is estimated that the economy of the 12 countries in the free trade area will rise by US $48 billion by 2020. Australian Trade Minister Simon Colin said at the signing that this is the largest free trade agreement signed by Australia, which has a milestone in its economic development.
The signing of the free trade agreement is a concrete manifestation of ASEAN's opposition to trade protectionism. During the summit, ASEAN also signed a series of documents to further promote ASEAN's economic integration and speed up the process of internal free trade.
Among them, 6 cooperative documents were signed in February 26th, namely ASEAN cargo trade agreement and ASEAN comprehensive investment agreement, and mutual recognition of doctors' qualification. At the ASEAN foreign ministers' meeting in February 27th, the ASEAN oil security agreement was also signed. The signing of these cooperation documents marks a further step towards ASEAN's goal of free flowing economic community of goods, services, investment and skilled workers.
Editor in chief: Xu Qiyun
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