Indonesia, Southeast Asia's largest economy, and Australia pledged Friday to help accelerate a negotiation to secure a free-trade agreement between the Association of Southeast Asian Nation, Australia and New Zealand (AANZ-FTA).
Indonesia hopes to complete its bilateral negotiations on a Free Trade Agreement (FTA) with Australia in 2009 if talks on FTA at ASEAN level (including Australia and New Zealand) are concluded this year, Indonesian Trade Minister Mari Elka Pangestu said.
Mass protests in South Korea against US beef are bad news for Australian exporters, costing millions of US dollars in lost sales and jeopardising a crucial free trade deal, the Cattle Council says.
During the FTA negotiations, the US pushed hard for Australia's local content laws to be removed. When Australia retained them, it was heralded as a victory for Australian culture. The reality is somewhat different. By freezing requirements at current levels, the agreement removes the Australian Government's ability to determine how best to regulate local content.
Prime Minister Kevin Rudd says his proposed new regional organisation could produce an Asia-Pacific free trade agreement which would mean big benefits for Australia.
The Rudd Government says its first successful free trade agreement reveals the tests it will apply to all bilateral trade negotiations as it switches the emphasis of trade policy back to multilateral free trade talks.
It was revealed in Senate Estimates hearings today, that Australian vegetable growers will be 'sold out' in negotiations with China over a Free Trade Agreement (FTA), according to Australian Greens Senator, Christine Milne.
Australia and India should aim to complete a free trade agreement by the end of next year, says India's influential Commerce and Industry Minister, Kamal Nath.