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ASEAN – Australia/New Zealand Free Trade Agreement (AANZFTA)

ASEAN – Australia/New Zealand Free Trade Agreement (AANZFTA) Closing the Deal Vangelis Vitalis Lead Negotiator Ministry of Foreign Affairs and Trade What is AANZFTA? The Association of South East Asian Nations

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ASEAN – Australia/New Zealand Free Trade Agreement (AANZFTA)

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  1. ASEAN – Australia/New Zealand Free Trade Agreement (AANZFTA) Closing the Deal Vangelis Vitalis Lead Negotiator Ministry of Foreign Affairs and Trade

  2. What is AANZFTA? • The Association of South East Asian Nations • Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Viet Nam • …and Australia

  3. Why AANZFTA?(Offensive and Defensive Commercial ) • ASEAN is New Zealand’s third largest export market ($4.1b to March 2008) • 6 ASEANS in top 25 for exports • Growth of 36% last year 17% average since 2003 • Investment in ASEAN growing fast (60% growth since 2003) – stocks of $3.76b • Competitive pressures • First-mover advantage in services and investment

  4. Why AANZFTA? (Strategic) • Economic platform for bilateral FTAs that go further • At the political and economic centre of East Asian regional integration. • Key component in our strategy of widening and deepening our regional integration

  5. AANZFTA: Unique • Size and diversity of ASEAN • Other FTAs ASEAN has concluded • ‘single undertaking’ approach is new for ASEAN • Economic cooperation operationalised • First example of ‘jointery’ with Australia

  6. Current status of negotiations • Fifteen rounds to date • Closing Phase of negotiations

  7. Goods • Tariff burden on business will be reduced from the current up to $50 million per annum • Many tariffs significant… • …but even the small ones proving hard to budge

  8. Rules of Origin (ROO) • Business will have simpler regional ROO • Key benefit is plurilateral nature of ROO • Two main approaches • Regional value content • Change of tariff classification (CTC) • A “co-equal” rules approach agreed • Goods need to be certified (as with China FTA) to get tariff preferences

  9. Customs • Customs facilitation will be improved • Review and appeal mechanisms • Transparency • Reducing transaction costs

  10. Services • Business will have new avenues for information (eg about licensing) and some new bound commitments for market access that are expected to be WTO-plus • Market access • Transparency (incl licensing and regulation) • Most favoured nation provision?

  11. Investment • Businesses will have new protections above the status quo in ASEAN markets • Protection elements will apply to investors and service suppliers

  12. Other Areas • Business will have improved transparency in TBT and SPS and may include some WTO-plus improvements for the protection of intellectual property • Negotiations have commenced on trade remedies • Competition policy, government procurement and labour and environment are works in progress

  13. Ministry of Foreign Affairs & Trade Private Bag 18-901 Wellington Vangelis Vitalis Lead Negotiator DDI: 04-439-8697 Email: vangelis.vitalis@mfat.govt.nz Luke Leonard Coordinator, ASEAN FTA DDI: 04-439-8084 Email: luke.leonard@mfat.govt.nz Contact Points

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