New Zealand’s Minister of Trade, Todd McClay has launched public consultations on the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) ahead of next year’s General Review. The Government intends to use the upcoming review to ensure that the agreement is delivering as much value as possible for New Zealand businesses.
In 2017, the Governments of New Zealand, Australia and the ten countries that make up the Association of South East Asian Nations (ASEAN) will launch a comprehensive review of the AANZFTA. The ASEAN region covers Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
The AANZFTA entered into force in New Zealand in 2010. There have been a number of important developments since 2010, thus the need for review. Developments include the conclusion of the Trans Pacific Partnership, progression of negotiations towards the Regional Comprehensive Economic Partnership, and the launch of the ASEAN Economic Community.
The agreement enables free trade to a combined 600 million people and is of particular relevance to the dairy industry as milk powder, cheese and milk are New Zealand’s major export products to the ASEAN region.
Submissions from the New Zealand public will close on Friday, 2 December 2016. More information on the review and how to submit can be found on the MFAT website. We will keep you updated with any further developments.