Australia-Hong Kong Free Trade Agreement
Australia and Hong Kong announced the conclusion of negotiations on the Australia-Hong Kong Free Trade Agreement (FTA) on 15 November 2018. The agreement marks a significant milestone in the already substantial trade and investment relationship between the two countries. Australian businesses, service suppliers, investors and farmers stand to benefit from the certainty this FTA will bring. Further information is available at Department of Foreign Affairs and Trade website.
Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA)
Negotiations on the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) commenced on 26 September 2012 and concluded on 31 August 2018. Australia and Indonesia signed the agreement (IA-CEPA) on 4 March 2019. Building on the benefits of the ASEAN-Australia-New Zealand Free Trade Agreement, IA-CEPA will provide access to Indonesian markets for Australian exporters.
Over 99 per cent of Australian goods exports to Indonesia will enter duty free or under significantly improved and preferential arrangements. IA-CEPA will improve access to the Indonesian market for key agricultural products and offers Australia the opportunity to reduce tariffs and remove import restrictions for a number of key agricultural exports, including horticulture, livestock, feed wheat/grains, meat, and dairy. Further information is available at Department of Foreign Affairs and Trade website.
Peru-Australia Free Trade Agreement
Australia and Peru concluded negotiations for a free trade agreement (FTA) on 10 November 2017 and signed the Peru-Australia Free Trade Agreement (PAFTA) on 12 February 2018. Both countries are following their own domestic treaty making processes to enable entry into force. For Australia, this included two inquiries by the Joint Standing Committee on Treaties (JSCOT), which reported on 15 August and 21 November 2018. Both inquiries recommended that binding treaty action be taken. PAFTA achieved preferential access through tariff eliminations and reductions across a wide range of agricultural commodities, including beef, sheep meat, pork, horticulture, seafood and wine. PAFTA will also provide Australia with significant preferential quota access into Peru’s highly protected markets for sugar, dairy and grains. The full text of the agreement is now available at PAFTA text and associated documents.
Pacific Agreement on Closer Economic Relations (PACER) Plus
The Pacific Agreement on Closer Economic Relations Plus (PACER Plus) is a comprehensive Free Trade Agreement (FTA) covering goods, services and investment. Negotiations on PACER Plus commenced in 2009 and concluded in Brisbane on 20 April 2017. The Agreement was signed in Nuku’alofa in Tonga on 14 June 2017 by Australia, New Zealand and eight Pacific island countries – Cook Islands, Kiribati, Nauru, Niue, Samoa, Solomon Islands, Tonga and Tuvalu. Vanuatu signed in Apia in Samoa on 7 September 2017. Negotiating parties have reviewed and legally verified the text of the Agreement. Australia has completed its internal requirements for entry into force of PACER Plus. Australia's primary objective with PACER Plus is a more sustainable and prosperous Pacific. The full text of the agreement and related documents are now available at Department of Foreign Affairs and Trade website.
Free trade agreements under negotiation
European Union (EU)
Australia and the European Union (EU) launched negotiations for a free trade agreement (FTA) on 18 June 2018. The first round of negotiations were held in Brussels in early July 2018. As a bloc, the EU is Australia's second largest trading partner, third largest export destination, and second largest services market. Through the Australia-European Union FTA, Australia is seeking to improve market access for Australian agricultural and industrial products and reduce barriers to trade and costs through modern customs, rules of origin and trade facilitation procedures. Further information on the prospective FTA, and Australia's relationship with the European Union is available at Department of Foreign Affairs and Trade website.
Regional Comprehensive Economic Partnership
The Regional Comprehensive Economic Partnership (RCEP) is an Association of Southeast Asian Nations (ASEAN) centred agreement which will initially include the ten ASEAN Member States and the six countries with which ASEAN has separate free trade agreements (FTAs): Australia-New Zealand, India, Japan, China and Korea. Negotiations were launched on 20 November 2012 and to date, there have been 24 negotiation rounds, with the last round taking place in New Zealand in October 2018.
RCEP will support improved Australian trade with a group of countries which accounts for almost half the world’s population and 60 per cent of Australian exports of agricultural, fisheries and forestry products. Further information on the proposed agreement is available at Department of Foreign Affairs and Trade website.
Pacific Alliance Free Trade Agreement
Australia and the Pacific Alliance launched negotiations for a Free Trade Agreement (FTA) on 30 June 2017. The Pacific Alliance is a Latin American trade grouping made up of Chile, Colombia, Mexico and Peru. A Pacific Alliance FTA would enable Australian businesses to access opportunities in this emerging and dynamic region, which combined is the world’s 8th largest economy and represents 35 per cent of Latin America’s nominal GDP. It would also strengthen our economic relationship with the region and help facilitate value chains between the Americas and Asia. Further information on the FTA and Australia’s relationship with the Pacific Alliance countries is available at Department of Foreign Affairs and Trade website.
Australia and India launched negotiations on the Australia-India Comprehensive Economic Cooperation Agreement (CECA) on 12 May 2011. There have been nine rounds of negotiations, the most recent of which was held in September 2015. Agriculture related issues are still to be discussed in detail. Further information is available at Department of Foreign Affairs and Trade website.
Gulf Cooperation Council
Free Trade Agreement negotiations with the Gulf Cooperation Council (GCC), comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, commenced in July 2007. To date, there have been four rounds of GCC-Australia FTA negotiations, with the last one held in June 2009. Negotiations remain on hold while the GCC reviews its trade agreement policies. The agreement would provide an opportunity to address a range of tariff and non-tariff measures related to our agricultural exports. Further information is available at Department of Foreign Affairs and Trade website