MEDIA RELEASE
ACCI represents over 350,000 businesses in every State and Territory and all industries. Our network employs around
4
million employees, ranging from the top 100 companies to tens of thousands of small and medium businesses.
MR 002/10
LEADING AUSTRALIAN BUSINESS
Friday 1 January 2010
ACCI WELCOMES COMMENCEMENT OF ASEAN FREE TRADE AGREEMENT
Statement by Mr Peter Anderson, Chief Executive
The Australian Chamber of Commerce and Industry (ACCI), welcomes the commencement today
of the Agreement establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA).
The Agreement was signed in Thailand in February 2009 by all ASEAN countries and Australia
and New Zealand. All countries have completed the domestic ratification process except for
Cambodia, Laos and Thailand. It is expected that these three countries will complete their
ratification early in 2010.
Under the AANZFTA many potential opportunities are available to Australian industry
particularly in textiles, agriculture, motor vehicles and motor-vehicle parts.
“The really exciting aspect to the Agreement, are the opportunities for Australian business to tap
into regional supply chains.”
The AANZFTA agreement allows for originating materials or components from any AANZFTA
country which are used in the final production of goods in another AANZFTA country to be
treated as originating materials under the Agreement. For example, if an Australian company
sources components from Indonesia or Singapore for its final product that company is able to take
advantage of the preferential tariff rates under AANZFTA in exporting the final good to Malaysia.
The AANZFTA agreement signifies a major step in closer relations with Australia’s ASEAN
neighbours and signals greater integration across the region’s economies. With the continued
stalling of the Doha Round of World Trade Organisation (WTO) talks, the AANZFTA agreement
illustrates that Australia is continuing to broaden its market access and relationships with key
trading partners though comprehensive regional trade agreements.
Australia’s total trade with ASEAN is approximately $64.9 billion and represents a 14.4% share of
Australia’s total merchandise trade. To put this in perspective, total trade with China, one of
Australia’s largest trading partners, is $76 billion and represents a 17% share of Australia’s total
merchandise trade.
In terms of services exports and investment relationships, ASEAN is also a very significant
partner, with Australian foreign direct investment (FDI) in ASEAN in 2008 $14 billion compared
to Australian FDI in China of only $4 billion.
For further information:
Peter Anderson
Chief Executive
0417 264 862
Nathan Backhouse
Manager, Trade and International Affairs
0431 615 709
Brett Hogan
Director of Communications
0407 273 884
NEWS 
