World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Australia one step closer to FTA with US

Australia one step closer to FTA with US


Trade Minister Mark Vaile said passage of the Trade Promotion Authority Bill (TPA) through the US House of Representatives this afternoon marks another major step forward for global trade negotiations as well as for a potential Australia-US Free Trade Agreement.

This news followed last night’s agreement between US Senate and House of Representatives conference negotiators on the Bill.

President Bush has been pushing for TPA from Congress because it allows him to make trade deals that Congress cannot change but only ratify or reject.

Passage of the TPA through the US House is long-awaited good news for global trade talks and good news for a potential US-Australia Free Trade Agreement, Mr Vaile said.

It will allow President Bush and his team to show the sort of leadership in international trade negotiations Australia has been hoping for which could deliver real benefits for our businesses and farmers.

This has been a big week for trade reformers in the United States with Thursday’s ambitious proposals by the US Administration for global agricultural trade reform in the World Trade Organisation.

Passage of this legislation provides the Administration with the capacity to negotiate bilateral free trade agreements, including with Australia. An FTA could boost Australia’s GDP by as much as $4b a year and deliver more and better jobs for Australians.

Mr Vaile stressed the US Senate is still to pass TPA, hopefully next week. The legislation requires the Administration to notify Congress of an intention to negotiate a trade deal with a particular country before negoiations can begin.

We are still analysing the detail of the TPA legislation to understand whether any provisions may adversely affect Australia’s interests, Mr Vaile said.

Tuesday, 27 July 2002



© Scoop Media

 
 
 
World Headlines

 

Gordon Campbell: On The Anti-Corbyn Split In British Labour

The resignation of seven UK Labour MPs in protest against the leadership of Jeremy Corbyn is another example of the centre-left’s readiness to sabotage its own cause ... More>>

Gordon Campbell: On Why We Shouldn’t Support The US-Led Coup In Venezuela

There’s a decidedly retro feel to the US-engineered coup now unfolding in Venezuela, which looks like a throwback to the 1950s, back when the US could overthrow any country (Iran 1953, Guatemala 1954) that posed a problem (or presented an opportunity) for US corporate interests. More>>

ALSO:

The Gili Islands: A Community Earthquake Recovery Effort

Joseph Cederwall travelled to the Gili Islands in October 2018 to talk to locals about their experiences of the event and witness the impact and the rebuild efforts on this unique ecotourism destination. More>>

Gordon Campbell: On The Ongoing Carnage In Gaza

The past month has devoted a lot of space to the best music and films of 2018, and far less to the past year’s human rights violations. The under-reporting on the ongoing carnage in Gaza has been a case in point. More>>

ALSO:

New Report: Refugees In PNG Being Pushed To The Brink

Refugee Council of Australia and Amnesty International paint a stark picture of a traumatised refugee population hit hard by Australia's recent healthcare and counselling service cuts, as well as continued threats to their safety. More>>

ALSO: