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How Many Trade Agreements Does Australia Have

The Foreign Policy White Paper published by Prime Minister Turnbull on 23 November 2017 confirmed that Australia would remain an active bilateral, regional and multilateral advocate for an open global economy and against protectionism. The White Paper also endorsed Australia`s ambitious approach of negotiating and implementing regional and bilateral free trade agreements to ensure Australia`s future prosperity and set a target of having more than 80% of Australia`s total trade with FTA partner countries by 2020 (currently, Australia`s ten free trade agreements cover about two-thirds of our total trade). Is Australia pursuing free trade agreements to the exclusion of other opportunities for trade liberalization? Are these free trade agreements used by Australian companies? Why is Australia so cautious about free trade agreements? Filled with videos, animations, interactive questions and a glossary to explain all the technical terms, Free Trade Advantage has been designed to help new and experienced exporters navigate the FTA process and ensure that Australian businesses get the most out of all the benefits that free trade agreements have to offer. The World Trade Organization (WTO) remains the foundation of Australian trade policy. Australia continues to work with other WTO members on the post-Doha Round negotiating agenda. Australia also relies heavily on current WTO rules and other core WTO functions, such as the dispute settlement system, to maintain a predictable and stable global trading environment. Learn about customs results and rules of origin of the Australian Free Trade Agreement via DFAT`s online FTA portal. Free trade agreements also offer other benefits to Australia. They can be negotiated and implemented more quickly than multilateral agreements and can play an important role in creating and enforcing liberal trade and investment rules that are not currently covered by the WTO. Free trade agreements allow Australian exporters and investors to benefit from the same preferential access, or better access, enjoyed by exporters and investors of our competitors. Free trade agreements (FTAs) are international agreements that remove or remove certain barriers to trade and investment between two or more countries. Australia currently has 11 free trade agreements with 18 countries and has attempted to negotiate and implement additional agreements.

A mutual recognition agreement has been concluded between the EU and Australia to facilitate trade in industrial products by reducing technical barriers. The Agreement establishes mutual recognition of conformity assessment procedures. This is done to reduce the costs of auditing and certifying exports and imports. The question sometimes arises as to whether Australian companies, particularly small and medium-sized enterprises, use free trade agreements. A report published by PwC on the use of free trade agreements concluded that Australian companies benefit from the tariff advantages of our free trade agreements, including in our agreements with China, Japan and Korea. The report showed that 95% of Australian exports to Japan, which were eligible for lower tariffs under the Japan-Australia Economic Partnership Agreement, used the lowest tariff rate. Free trade agreements have also had a positive impact on business confidence, strategy, expansion planning and international investment. The liberalization of trade and investment agreements, whether bilateral, regional or multilateral, brings Australia more prosperity in the form of stronger economic growth and more jobs than usual.

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