The EU and Australia have concluded negotiations for a political framework agreement containing a series of economic and trade cooperation agreements. Join the many Australian companies that are already enjoying the benefits of the Australian Free Trade Agreement. The liberalization of trade and investment agreements, whether bilateral, regional or multilateral, brings Australia more prosperity in the form of stronger economic growth and more jobs than usual. Studies by the Centre for International Economics showed that Australia`s average household income in 2016 was more than $8,000 higher than it would have been without three decades of trade liberalization by successive Australian governments. The same study showed that 1 in 5 jobs in Australia depended on trade and 1 in 7 jobs in Australia depended on exports. A mutual recognition agreement has been concluded between the EU and Australia to facilitate trade in industrial products by reducing technical barriers. The Agreement establishes mutual recognition of conformity assessment procedures. This is done to reduce the costs of auditing and certifying exports and imports. The question sometimes arises as to whether Australian companies, particularly small and medium-sized enterprises, use free trade agreements.
A report published by PwC on the use of free trade agreements concluded that Australian companies benefit from the tariff advantages of our free trade agreements, including in our agreements with China, Japan and Korea. The report showed that 95% of Australian exports to Japan, which were eligible for lower tariffs under the Japan-Australia Economic Partnership Agreement, used the lowest tariff rate. Free trade agreements have also had a positive impact on business confidence, strategy, expansion planning and international investment. The fundamental importance of the WTO for Australia is underscored by the fact that the relevant rules of the FTA explicitly refer to and depend on WTO rules. Australia is a strong supporter of wto rules with respect to free trade agreements, including the requirement that these agreements must « essentially liberalize all trade » between the parties. Free trade agreements (LEAs) offer Australian businesses a competitive advantage. By removing and removing barriers to international trade and investment, free trade agreements benefit Australian exporters, importers, producers and investors. So far, the EU and Australia have conducted their trade and economic relations under the 2008 EU-Australia Partnership Framework. The aim is to facilitate trade in industrial products between the EU and Australia by reducing technical barriers and improving trade in services and investment.
The World Trade Organization (WTO) remains the foundation of Australian trade policy. Australia continues to work with other WTO members on the post-Doha Round negotiating agenda. . . .