Contributing Lawyers

Canada

Cyndee Todgham Cherniak

United States

Susan Kohn Ross

Australia

Andrew Hudson



Commencement date for Australia - NZ and ASEAN FTA confirmed

According to a media release of 25 October 2009 from the Australian Trade Minister, it has been agreed that the ASEAN-Australia-New Zealand Free Trade Agreement will come into force on 1 January 2010 following discussion between ASEAN leaders at the East Asia Summit which took place last weekend.

As previously reported and as set out in the media release, the Free Trade Agreement will establish the ASEAN-Australia-New Zealand Free Trade area spanning 12 economies with over 600,000 million people and a combined GDP of $3.1 trillion.  The Agreement is to cover 20% of Australia's 2-way trade worth $112 billion and will eliminate tariffs on 90% of our current exports to ASEAN nations by 2020.

Those receiving this e-alert would be aware of earlier publications by us on this topic such as those as were issued in August 2008 and February 2009.  In addition, we have made reference to the terms of the Free Trade Agreement during earlier CBFCA Member Forums and various other sessions conducted in conjunction with the Law Institute of Victoria, Austrade and DFAT.

I will be addressing more detailed aspects of the Free Trade Agreement (including issues associated with Rules of Origin and the issue of Certificate of Origin) during CBFCA Member Forums to be conducted during November 2009.  Details of these Member Forums can be found on the CBFCA website at www.cbfca.com.au.

As always, we look forward to being of assistance to you in preparing to take full benefit of the Free Trade Agreement from its commencement.

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