New Zealand has a second free trade agreement with Australia – AANZFTA – between New Zealand, Australia and the Association of Southeast Asian Nations (ASEAN). In most cases, you are better off using the ERC to export goods to Australia. Now is the time to write the next chapter on the way to an internal market for the economy. During my visit, I discussed with Prime Minister Key the remarkable progress made in the SmartGate project to create borderless travel between our two countries. This month, a joint study will be launched to explore how we can create a true “domestic” aviation experience. One of the main results of the ERC was the Protocol on Accelerating the Free Movement of Goods, which led to the total abolition of tariffs or quantitative restrictions between the two countries until 1 July 1990, five years earlier than planned. Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of market and Australian services. Australia is our largest trading partner in services. 21% of our services exports go to Australia ($NZ $3.8 billion) and services imports from Australia account for 29.4% ($5.1 billion) of all our services imports. For more information on rules of origin and agreement, visit Fact Sheet 8 (PDF 701 KB). The 2013 ERC Investment Protocol is an ambitious investment agreement and maintains the ERC`s status as one of the most comprehensive free trade agreements in the world.
The protocol reduces compliance costs and provides trans-Tasman investors with greater legal certainty by setting higher thresholds for foreign investment. The South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) is a non-reciprocal trade agreement in which NZ (with Australia) provides preferential tariff treatment for certain products that are the production or production of Pacific Forum countries (known as the Forum Island Countries). For NZ products exported to an Island Country Forum, there is no preferential rate. Whether you are considering starting a business in Australia, or are already a major player in New Zealand, you want to open new markets, the good news is that there are a number of free trade agreements and partnerships designed to guarantee investment and trade between countries.