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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

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

Closing the Deal

Vangelis Vitalis

Lead Negotiator

Ministry of Foreign Affairs and Trade

what is aanzfta
What is AANZFTA?
  • The Association of South East Asian Nations
    • Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Viet Nam
  • …and Australia
why aanzfta offensive and defensive commercial
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
why aanzfta strategic
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
aanzfta unique
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
current status of negotiations
Current status of negotiations
  • Fifteen rounds to date
  • Closing Phase of negotiations
goods
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
rules of origin roo
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
customs
Customs
  • Customs facilitation will be improved
  • Review and appeal mechanisms
  • Transparency
  • Reducing transaction costs
services
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?
investment
Investment
  • Businesses will have new protections above the status quo in ASEAN markets
  • Protection elements will apply to investors and service suppliers
other areas
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
contact points
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