Macrossans Lawyers Brisbane law firm

Since coming into power, the Australian Government, under Prime Minister Rudd, has been very proactive in negotiating free trade agreements.

At the end of February, Australia signed a free trade agreement with Thailand and in early March, the free trade agreement with Chile commenced. The FTA with Chile reduced tariffs on approximately 97% of goods traded including coal, meat, wine and dairy exports.

In early March during a visit from the President of the Republic of Korea, Mr Lee Myung Bak, the government announced that negotiations would commence for a free trade agreement with Korea, that country being Australia's fourth largest trading partner.

In August 2008, Australia and New Zealand, signed a free trade agreement with the ASEAN countries. ASEAN members are Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.  This FTA should significantly reduce tariffs on Australian beef, sheep and goat meat.  Tariffs on Australian pharmaceutical goods will also be reduced throughout the ASEAN countries.

The Australian Government continues to negotiate a free trade agreement with China, with the latest round of negotiations held in December last year. The China FTA task force is looking for information from Australian industry on the specific barriers and challenges faced in the Chinese market. If you would like to make a submission to the Department of Foreign Affairs and Trade, please contact us.

The free trade agreement with the United States of America negotiated by the former Howard Government commenced in January 2005 and the agreement with Singapore in July 2003.

The Federal Government is currently negotiating Free trade agreements with Japan, Malaysia and the Gulf Cooperation Council.