The signing of protocol to amend the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) has been welcomed by the New Zealand.
AANZFTA is Australia’s first multi-country FTA. It is the first time Australia and New Zealand have been involved jointly in negotiating an FTA with third countries. It is the first time ASEAN has embarked on FTA negotiations covering all sectors including goods, services, investment and intellectual property simultaneously. This makes it the most comprehensive trade agreement that ASEAN has ever negotiated.
It is expected that the Protocol will enter into force in early 2015, once negotiations concerning implementation requirements are completed.
