The ASEAN Australia New Zealand Free Trade Agreement (AANZFTA)
The AANZFTA agreement, signed in 2009 and entered into force between January 2010 and 2012, liberalises and facilitates trade in goods, services and investment between New Zealand, Australia and the ASEAN economies. It contains measures to improve business flows and promote cooperation in a broad range of economic areas of mutual interest.
The key elements of the FTA include:
• Liberalised trade in goods – removal of tariffs
• Rules to govern trade in goods to allow exporters to take advantage of the preferential conditions offered under the ASEAN FTA.
• Liberalised trade in services – improved commitments in services, particularly in the context of education services.
• Movement of people – provisions to better facilitate the movement of business people within the ASEAN region.
• Enhanced protection for investment – enhanced protections for investments established in ASEAN economies.
• Measures to improve business flows – reducing barriers to doing business in ASEAN.
• Dispute settlement
• Associated Documents: Environment and Labour – enhanced communication and co-operation
• Associated Documents: Temporary Employment Entry / Working Holiday Schemes
with the Philippines and Viet Nam.
Related trade agreements in force
The New Zealand Malaysia Free Trade Agreement
The New Zealand – Malaysia Free Trade Agreement (FTA) was signed in Kuala Lumpur on 26 October 2009.
The FTA has liberalised trade in goods, services and investment. It contains measures to improve business flows and promote cooperation in a broad range of economic areas of mutual interest and is supported by Agreements on trade and the environment and trade and labour matters. It goes beyond the commitments made in the AANZFTA.
The main benefits from the FTA are:
•enhanced access to the Malaysian market for New Zealand goods and services exporters;
•improved firm competitiveness as a result of preferential tariff treatment and exposure to international competition;
•greater certainty (and thus reduced risk) for New Zealand businesses about the future trading and investment environment in Malaysia; and
•potential longer term gains from enhanced regional integration.
New Zealand – Thailand Closer Economic Partnership Agreement
This agreement entered into force 1 July 2005 after negotiations on a Closer Economic Partnership (CEP) Agreement between New Zealand and Thailand were concluded in November 2004.
In parallel with the CEP, New Zealand and Thailand have negotiated Arrangements on Labour, Environment and Customs Cooperation.
Trans-Pacific Strategic Economic Partnership Agreement or P4 between Brunei Darussalam, Chile, New Zealand and Singapore
The Trans-Pacific Strategic Economic Partnership (P4) Agreement between Brunei Darussalam, Chile, Singapore, and New Zealand, commenced in 2006 and was the first multi-party free trade agreement linking Asia, the Pacific and the Americas.
Most tariffs on goods traded between member countries were removed immediately, with remaining tariffs phased out. Other P4 measures to facilitate trade in goods cover rules of origin, quarantine rules and technical barriers to trade.
Agreement between NZ and Singapore on a Closer Economic Partnership
The Agreement between New Zealand and Singapore on a Closer Economic Partnership (CEP) entered into force in 2001 and remains in force. In an arrangement between New Zealand and Singapore, exporters from both countries will be able to choose the better of the treatment afforded under either the earlier NZ-Singapore CEP or the later P4 Agreement. This is designed to ensure that no trader is left worse off. .
The CEP is comprehensive, covering goods, services, investment and technical and hygiene/quarantine barriers to trade in goods.
Trade Agreements under negotiation
Trans-Pacific Partnership Agreement
The Trans-Pacific Partnership (TPP) aims to create a regional free trade agreement involving 12 Asia Pacific countries: Australia, Brunei Darussalam, Chile, Japan, Malaysia, Peru, Singapore, the United States, Viet Nam, Mexico, Canada and New Zealand.
Regional Comprehensive Economic Partnership (RCEP)
The Regional Comprehensive Economic Partnership (RCEP) is a FTA negotiation that has been developed among the 10 members of ASEAN and the six countries with which ASEAN has existing Free Trade Agreements (FTAs) – Australia, China, India, Japan, Korea, and New Zealand. In relation to RCEP these six non-ASEAN countries are known as the ASEAN Free Trade Partners (AFPs).
For more information on the ASEAN related Free Trade Ageements :
P4 (Trans-Pacific Strategic Economic Partnership Agreement)
ASEAN / NZ Trade Statistics
For up to date sources of ASEAN / NZ trade statistics on goods, services and investment from the NZ Department of Statistics follow the link below and search the reports:
The ANZ provides excellent month-to-month data for NZ’s trade with ASEAN.
International Partnerships and Meetings
NZ Government NZ Inc ASEAN Strategy
The NZ Inc ASEAN Strategy, launched in 2013, is one of a series of assessments by the NZ Government with business input, identifying areas to address to ensure an optimum engagement in markets of long term strategic importance.
The ASEAN Strategy is the first of the regional Strategies to be developed and outlines how New Zealand and ASEAN can become better connected, better integrated, and where two-way investment, trade and services can be increased.
To view the NZ Inc ASEAN Strategy, the Prime Ministers Address and associated documents, follow the link: http://www.mfat.govt.nz/NZ-Inc/8-NZ-Inc-ASEAN/index.php
The Education NZ strategy for ASEAN (a target market is set out on:
ASEAN Business Advisory Council (ASEAN BAC)
ASEAN BAC was formed in 2003 to provide private sector feedback and guidance in order to boost ASEAN’s efforts towards greater economic integration.
ASEAN-BAC is mandated by the ASEAN Leaders as the official ASEAN linkage to provide private sector feedback, guidance and priority areas to boost ASEAN’s efforts towards economic integration.
ASEAN BAC organizes the annual ASEAN Business & Investment Summit (ASEAN-BIS) and in 2013 resolved formally to connect with its “ASEAN plus one” partners to advise on and assist its efforts.
The first joint meeting between ASEAN BAC and its Business Council partners took place in Brunei Darussalam in 2014 with ANZBC participating as its New Zealand “plus one” partner.
To read more follow the link: http://www.asean-bac.org/
East Asia Summit
The East Asia Summit (EAS) is a regional leaders’ forum for strategic dialogue and cooperation on major challenges facing the East Asia region.
The inaugural EAS was held in Kuala Lumpur in December 2005 comprising the 10 ASEAN countries plus Australia, China, India, Japan, New Zealand and the Republic of Korea. Russia and the US joined the EAS at the Leaders’ summit in 2011.
The 18 EAS members represent collectively 56% of the world’s population, account for almost 55% of global GDP and account for 67% of New Zealand’s exports.
The focal point for the EAS is the annual Leaders’ summit. Annual consultations of foreign ministers and trade ministers are held back-to-back with ASEAN meetings. Ministerial meetings have been held in the areas of environment, energy, finance and education. Other key items of discussion in the EAS have been disaster management, pandemic preparedness and regional economic integration. New Zealand and Thailand are currently leading an EAS initiative on regulatory cooperation
Integration Partnership Forum
The Integration Partnership Forum is a collaboration between the governments of New Zealand and Australia. It provides an opportunity for ASEAN countries to share the insights and lessons learnt from nearly thirty years of the Australia – New Zealand Closer Economic Relations (CER)/Single Economic Market (SEM) journey, and to consider possible implications for their own process of economic integration.