Benefits Of Free Trade Agreements Australia

Filled with videos, animations, interactive quiz questions and a glossary to explain all the technical terms – Free Trade Advantage has been designed to help new and experienced exporters move in the same way through the FTA process and ensure that Australian companies fully leverage all the benefits that FTAs have to offer. The benefits for Australians exporting goods to China are significant and extend to the removal or reduction of tariffs, larger quotas for certain limited goods, and streamlined custom processes. A total of 98% of Australian products exported to China are admitted tax-free or at preferential prices. Essentially, the negotiated terms have given Australia a significant competitive advantage in the Chinese market over some of our major competitors such as the United States, Canada, the EU and New Zealand, particularly in our agri-food and processing sector. The main results are: requires transparent procedures for registering trademarks, including geographical indications. · This is the largest immediate reduction in industrial tariffs ever achieved in the case of a U.S. free trade agreement, and will bring immediate benefits to U.S. workers and businesses in the manufacturing industry. U.S. producers estimate that the abolition of tariffs could result in $2 billion a year in increasing U.S. exports of industrial products.

Free trade agreements also offer other benefits to Australia. They can be negotiated and implemented more quickly than multilateral agreements and can play an important role in creating and enforcing liberalisation rules for non-WTO trade and investment issues. Free trade agreements allow Australian exporters and investors to enjoy the same preferential access, or better preferential access, enjoyed by exporters and investors of our competitors. · More than 99% of U.S. exports of industrial products to Australia will be duty-free as soon as the agreement comes into force. Manufactured goods currently account for 93% of total U.S. goods exports to Australia. · specifies that test data and trade secrets submitted to a government for marketing authorization are protected for a period of five years for drugs and agrochemicals for unfair commercial use for a period of five years.

It fills in the potential loopholes in these provisions. · Australia and the United States have agreed on e-commerce provisions that reflect the importance of the issue in world trade and the importance of providing products and services electronically as a key element of a dynamic e-commerce environment. The World Trade Organization (WTO) remains the basis of Australia`s trade policy. Australia continues to work with other WTO members on the Doha post-round negotiating agenda.

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