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The Agreement establishing the ASEAN-Australia and New Zealand Free Trade Area (AANZFTA) was signed by New Zealand, Australian and ASEAN Trade Ministers on 27 February at the ASEAN Summit in Hua Hin, Thailand. The text of the Agreement, associated instruments and publication documents are available on the whole-of-government website: ASEAN.fta.govt.nz.
The AANZFTA represents a significant milestone in New Zealand’s engagement and ongoing integration into one of the world’s most economically dynamic regions. ASEAN is our third largest export market - growing 110% since 2003, with two-way trade in goods worth $12.2 billion in 2008. Globally ASEAN represents a market of more than 566 million people and accounts for more than US$1,400 billion in trade.
New Zealand expects the Agreement to enter into force in the second half of this year once New Zealand, Australia and four ASEAN country parties have concluded their ratification procedures.
ASEAN-Australia/New Zealand Free Trade Agreement - updates and announcements