Mark Vaile and Bob Zoellick to Sign AUSFTA in Washington

The Minister for Trade, Mark Vaile, confirmed today he would be travelling to the United States later this month to sign the Australia United States Free Trade Agreement. Negotiations on the Agreement were finalised in February after 11 months of talks between the two countries.

Last week a report by the Centre for International Economics (CIE) estimated the deal would add over $6 billion annually to the Australian economy after ten years of operation.

The Agreement will be signed by Mr Vaile and his counterpart, United States Trade Representative Bob Zoellick on Tuesday, 18 May in Washington. Ministerial signature will allow the US Congress to consider the agreement by July.

The Australian Parliament's Joint Standing Committee on Treaties (JSCOT) is currently undertaking hearings around Australia and is due to report in June to allow passage of enabling legislation through parliament in August.

Contact: Matthew Doman 02 6277 7420