Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Indonesia Enters Asean-Australia-New Zealand FTA

The Hon Dr Craig Emerson
Australian Minister for Trade

The Hon Tim Groser
Minister of Trade

Indonesia Enters Asean-Australia-New Zealand FTA

Australia’s Trade Minister, Craig Emerson, and New Zealand’s Minister of Trade, Tim Groser, today welcomed Indonesia’s announcement that it had completed domestic procedures to enable the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) to enter into force for Indonesia. AANZFTA is already in force for Australia, New Zealand and the other nine ASEAN member countries.

“This means that from 10 January 2012 businesses on both sides of the Tasman will be able to capitalise on the FTA’s considerable opportunities for mutually advantageous trade with Indonesia – one of our most important trading partners,” said Mr Groser.

Indonesia is a major emerging economy with the world’s fourth largest population. It is the largest economy in South East Asia accounting for over one third of ASEAN’s GDP and is expected to be one of the world’s top 10 economies by 2030. “Indonesia’s importance to Australia and New Zealand will only grow,” said Dr Emerson.

ASEAN’s total trade with Australia and New Zealand was just under A$90 billion in 2010.

“AANZFTA is a high-quality, regional trade agreement that provides benefits to all of its parties,” said Mr Groser. Both Ministers urged their business communities to pursue actively the opportunities presented under this FTA.

By 2015, Australian and New Zealand exporters will receive tariff-free treatment in Indonesia on more than 90 per cent of tariff items, compared with only 11 per cent now.

“AANZFTA will also give greater certainty to Australian and New Zealand investors and services suppliers in Indonesia,” said Dr Emerson.

AANZFTA is part of Australia and New Zealand’s drive towards growth in trade through achieving more open markets and closer regional economic integration.

Find out about AANZFTA at wwwasean.fta.govt.nz; www.dfat.gov.au/fta/aanzfta/; http://aanzfta.asean.org/

The Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area - AANZFTA - entered into force on 1 January 2010 for eight of its 12 signatories: Australia, New Zealand, Brunei, Burma, Malaysia, the Philippines, Singapore and Vietnam; for Thailand on 12 March 2010; for Laos and Cambodia on 1 and 4 January 2011 respectively.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election