Truss launches FTA policy guide

The Minister for Trade, Warren Truss, today released a new booklet that outlines the Australian Government’s policy on free trade agreements (FTAs).

Mr Truss released Free Trade Agreements: A Guide to Australia’s Policy at the 2007 launch of the Australian Export Awards in Sydney.

“The booklet summarises the Australian Government’s approach to FTA negotiations and uses case studies to illustrate how Australian companies of all sizes are benefiting from Australia’s existing FTAs.

“More than 60 per cent of Australia’s trade is with our FTA partners – those countries with which we have or are negotiating an FTA,” Mr Truss said.

Australia has already negotiated FTAs with New Zealand (1983), Singapore (2003), Thailand (2005) and the United States (2005). Australia has also started negotiations with ASEAN (together with New Zealand), Malaysia, China, the Gulf Cooperation Council and Japan. The negotiating process has also begun with Chile and Korea.

Mr Truss re-iterated that achieving a successful outcome of the Doha Round of talks remains the Australian Government’s top trade priority. However, FTAs clearly have an important complementary role to play.

“FTAs open up export markets and create opportunities for Australian businesses. The booklet, Free Trade Agreements: A Guide to Australia’s Policy, explores these opportunities.

“While the World Trade Organization (WTO) sets the rules for world trade and is the key to keeping export markets open around the world, FTAs deliver real commercial gains with individual countries faster than can be negotiated in the WTO, which has more than 150 members. FTAs also tackle issues not covered in the WTO.”

Mr Truss said the proliferation of FTAs around the world means that Australia must also negotiate free trade agreements – or risk our competitors getting preferential access to our export markets.

“Our bottom line is that FTAs should deliver commercial benefits to Australian consumers and businesses across all sectors of trade. FTAs should also act as a building block for trade liberalisation through the WTO.

For copies and further information visit the Department of Foreign Affairs and Trade website. For hard copies, e-mail tradewatch@dfat.gov.au

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555