Free, and other, trade agreements under negotiation
Australia-India Comprehensive Economic Cooperation Agreement (CECA)
Australia and India formally launched CECA negotiations in May 2011. In 2022, India was Australia’s sixth largest trading partner with two-way goods and services trade valued at $46.5 billion.
Negotiations were suspended in 2016 before recommencing in September 2021. An interim agreement with India (called the Australia-India Economic Cooperation and Trade Agreement) was signed on 2 April 2022 and entered into force on 29 December 2022. Negotiations have resumed for CECA, which will build upon ECTA outcomes to develop closer economic ties between Australia and India. Further information is available at the Department of Foreign Affairs and Trade website.
Australia-European Union (EU) FTA
Australia and the EU launched negotiations for an FTA on 18 June 2018. As a bloc, the EU was Australia's third largest trading partner in 2022 and was Australia's fifth largest export destination, and second largest services export market. Through the A-EU FTA, Australia is seeking to improve market access for Australian agricultural and industrial products, lock in access for service providers, and reduce barriers to trade and investment through modern customs, rules of origin and trade facilitation procedures along with enhanced transparency and regulatory frameworks. Further information is available at the Department of Foreign Affairs and Trade website.
Indo-Pacific Economic Partnership (IPEF)
On 9 September 2022, Australia joined 13 other countries to launch negotiations on the Indo-Pacific Economic Partnership (IPEF).
IPEF is a new type of regional trade agreement which aims to build cooperation and economic integration in the Indo-Pacific across four pillars of work i) Trade, ii) Supply Chains, iii) Clean Energy, and iv) Fair Economy (tax and anti-corruption issues),
IPEF’s Trade pillar includes an Agriculture chapter aimed at expanding trade opportunities through trade facilitating regulatory provisions and addressing unjustified non-tariff measures – but it does not include market access for goods through tariff reductions.
IPEF partners signed the Supply Chain Agreement and announced substantial conclusion of the negotiations of the Clean Economy Agreement and Fair Economy Agreement on 16 November 2023. Significant progress has been made on the remaining Trade pillar with negotiations to continue in 2024.
Further information is available at the Department of Foreign Affairs and Trade website.
Free trade agreements under consideration
Australia-UAE Comprehensive Economic Partnership Agreement (A-UAE CEPA)
On 17 March 2022, Minister for Trade, Tourism and Investment Dan Tehan and HE Dr Thani bin Ahmed Al Zeyoudi Minister of State for Foreign Trade issued a joint statement announcing Australia and the UAE’s intention to pursue a Comprehensive Economic Partnership Agreement (CEPA). A trade agreement with the UAE would be a first for Australia in the Middle East and be an important building block to a subsequent potential free trade agreement with the Gulf Cooperation Council (GCC). More information on the A-UAE CEPA can be found on the Department of Foreign Affairs and Trade website.