Announcement date
21/08/2023
Link to announcement
https://www.trademinister.gov.au/minister/don-farrell/media-release/deepening-economic-ties-our-asean-partners
Problem being addressed
The original AANZFTA, which entered into force in January 2010 for Australia, is no longer meeting Australian consumer and business requirements. Rapidly evolving economic environments have meant that AANZFTA no longer delivers the greatest possible benefits for Australian consumers and businesses, and has fallen behind more recently agreed FTA's between AANZFTA parties.