Free Trade News - Australasia
Tuesday, April 19th, 2005 - 3:56 pm
China and Australia continue to move toward a free trade agreement, although it still looks like a long shot. Today, China agreed to support Australian participation at the upcoming East Asian Summit, which is sponsored by ASEAN. Prime Minister, John Howard, is in Beijing this week.
Australia’s free trade agreement with Thailand came into effect on Jan. 1, 2005, as did the USA pact. Oz also has a two-year old free trade deal with Singapore. This year, Australia hopes to advance free trade talks with Malaysia, the United Arab Emirates, and in concert with New Zealand, with ASEAN (Assoc. of South East Asian Nations). However, Japan, which is Australia’s largest export market, has recently poured cold water on free trade prospects between the two countries because of fears for its domestic agricultural producers.
Meanwhile, New Zealand PM Helen Clark, and Thai Prime Minister Thaksin Shinawatra presided over the signing of a CEP (Closer Economic Partnership) Agreement in Bangkok today. Arrangements on Labour and Environment, negotiated in parallel with the CEP, and a Working Holiday Scheme arrangement between New Zealand and Thailand were also signed. Negotiations with Chile and Singapore towards a Closer Economic Partnership Agreement are entering the final stages.
Thailand is currently negotiating FTA’s with China, Japan, and the USA.
Japan’s FTA with Mexico came into effect this month and the Japanese continue to negotiate with the Philippines, Malaysia, and South Korea. (Mexico, incidentally, has signed 42 FTA’s. Does anyone know of a country with more?)
