Joint Media Release with Senator Nick Sherry, Assistant Treasurer
26 November, 2009
Productivity Commission review into bilateral and regional trade agreements
The Minister for Trade, Simon Crean, and the Assistant Treasurer, Senator Nick Sherry, today announced a Productivity Commission review into the impact of bilateral and regional trade agreements on trade and on investment barriers.
The review will also examine the effects of these bilateral and regional agreements on Australia’s trade and economic performance.
The Rudd Government is committed to a strong multilateral trading system as a way of resisting any rise in global protectionist measures, particularly during the global recession and its aftermath.
While continuing to push multilateral trade negotiations, Australia has increased its participation in bilateral and regional trade and investment negotiations in recent years. Australia has signed six Free Trade Agreements (FTAs) and is in the process of negotiating seven others.
These FTAs reflect the Australian Government’s approach to completing comprehensive FTAs that are consistent with the World Trade Organization's rules based system for international trade. An example of this is the ASEAN-Australia-New Zealand FTA which comes into force on January 1, 2010. It is a world-class, comprehensive agreement and the largest FTA Australia has signed.
To complement these developments, the Productivity Commission study will examine the effectiveness of trade agreements in responding to national and global economic and trade developments and in contributing to efforts to boost Australia’s engagement in the region and evolving regional economic architecture.
The 2008 Review of Export Policies and Programs (the Mortimer review) recommended that the Government "accord a high priority to the Productivity Commission … undertaking more economic analysis and advice on export and investment issues" (Recommendation 4.5).
To assist with the study, the Government has appointed Mr Andrew Stoler as a part-time Associate Commissioner. Mr Stoler has a long background in working on trade‑related issues and will bring a wealth of experience to the role.
The terms of reference for the study are attached and the Productivity Commission is required to issue its final report within 12 months. To register an interest in the study, or for further information, please visit www.pc.gov.au.
Canberra
Media Inquiries
- Mr Crean’s Office 02 6277 7420
- Assistant Treasurer’s Office Joe Scavo 6277 7360
- Departmental Media Liaison 02 6261 1555