Australia has concluded negotiations for the region-wide ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). The agreement marks a significant step towards the lifting of ASEAN trade barriers on Australian products and services, and the possible establishment of a regional trade marks filing system.
According to the Minister for Trade, the AANZFTA covers 16 per cent of Australia's trade in goods and services, two-way trade worth $71 billion and a market of 570 million people with a combined GDP of US$1 trillion. AANZFTA is Australia's first multi-country (plurilateral) FTA.
The final negotiations were concluded in Singapore on 28 August 2008 conducted by Ministers of the 10 ASEAN countries, Australia and New Zealand. The agreement became public when the Ministers were photographed trying to give the secret handshake at a press conference. The signing of the AANZFTA is scheduled for December this year.
So far, amusing handshakes, back-slapping and press releases, but pretty thin on the details. Good luck trying to find a copy of the draft document. It appears that there are "a small number of bilateral market access issues between certain parties". (Source: Joint Media Statement of the Thirteenth AEM-CER Consultations, Singapore, 28 August 2008 - HERE).
According to Tim Harcourt, chief economist at Austrade:
"ASEAN has already announced deals with China (to be phased in by 2010) and Japan (by 2012) there is a potential to have a regional a free trade area stretching from Hokkaido in the north of Japan to Invercargill on the very southern tip of the South Island of New Zealand!"
According to the intellectual property page on the ASEAN website:
"The (ASEAN) Experts Group on Trademark has finalized the ASEAN Filing Form for Trademarks and the Notes for the Completion of the Application. These achievements, together with the completed ASEAN Common Form and the consolidated ASEAN list of ethnic goods and services, represent important steps forward in the regional cooperation in IP. Despite its inherent complexities, Member Countries have continued their efforts in the harmonization of the trademark filing requirements. This is a process of significant importance towards the establishment of a regional filing system."
According to the Department of Foreign Affairs and Trade (DFAT), it was the first time Australia and New Zealand have been involved jointly in negotiating an FTA with third countries and the first time ASEAN has embarked on comprehensive FTA negotiations covering all sectors including goods, services and investment, intellectual property simultaneously.
Australian franchises in the ASEAN market include Gloria Jean's Coffee, Boost Juice, Cartridge World, Hog's Breath Café, Video Ezy, Natural Springs Australia, Howard's Storage World and ActionCoach.
DFAT fast facts about the deal HERE.
Minister for Trade's press release HERE.
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