China-Australia Free Trade Agreements
March 24, 2017, the Chinese and Australian Prime Minister witnessed the Chinese Minister of Commerce Zhong Shan and the Australian Minister of Trade, Tourism and Investment Steven Chobo on behalf of the two governments signed the “Government of the People’s Republic of China and the Australian Government Opinions on Intentions for the Consideration of China-Australia Free Trade Agreements ”
Officially announced that the two countries will start the China-Australia FTA section, investment section and the Memorandum of Understanding on Investment Facilitation Arrangement in 2017.
FTA new expansion
The”statement” – signing by Premier Li Keqiang’s important economic and trade achievements in Australia, shows that the two countries support economic globalization, promote trade liberalization and investment facilitation of the firm determination will further deepen the two countries in the framework of the free trade agreement Of the cooperation, in order to start the relevant upgrade negotiations to lay a good foundation for the development of bilateral relations into a new impetus.
After FTA signed with new business opportunities
The China-Australia FTA will enter into force on December 20, 2015. Since the entry into force of the agreement, bilateral economic and trade relations have developed steadily. The trade in bilateral trade in goods has been continuously optimized, and the export of advantageous products has achieved rapid growth. The trade in finance, tourism, education and medical care has been booming and the personnel exchanges have become increasingly frequent. Both businessmen and people have benefited from the implementation of the agreement.
In accordance with the provisions of the agreement, the two sides will be effective within 2-3 years after the agreement on services and investment issues to be considered.
China and Australia are important trading partners, economic complementarity is very strong. The two sides choose to adhere to the market open, continue to promote trade liberalization, deepen mutually beneficial cooperation for the two companies to create a more fair, just and transparent trade and investment environment.
China and Australia firmly support the role of the main channel of the multilateral trading system and are willing to work with the international community to safeguard the authority and effectiveness of the multilateral trading system, to properly solve the problems arising in the process of economic globalization, to guide economic globalization towards a more inclusive and reciprocal, Fair and reasonable direction.
Frequently asked questions
What are the main contents of the China-Australia FTA?
The China-Australia FTA includes the text and four annexes. In addition to the preamble, there are 17 chapters, namely, initial terms and definitions, trade in goods, rules of origin and procedures, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, trade remedy, trade in services, investment , Natural person movement, intellectual property, e-commerce, transparency, mechanism clause, dispute settlement, general terms and exceptions, final terms, including 11 chapters in each chapter.
The four annexes to the Agreement are the trade in goods, the rules of origin for specific products, the concessions for trade in services, and the five exchange of rules on skills assessment, financial services, educational services, legal services, investor and national dispute resolution
In addition to the text and annexes, the outcome of the China-Australia FTA negotiations includes two memorandums of understanding on “Investment facilitation arrangements” and “holiday work visa arrangements”, as well as cooperative exchange of Chinese medicine services. These three documents are signed together with the agreement.
When the China-Australia FTA signed?
June 17, 2015, Chinese Minister of Commerce Gao Hucheng and the Australian Minister of Trade and Investment Andrew Rob on behalf of the two governments, in Canberra, Australia officially signed the “Government of the People’s Republic of China and the Australian Government Free Trade Agreement.”
Chinese President Xi Jinping and Australian Prime Minister Tony Abet on the day of the agreement signed a letter of congratulation.
When will the China-Australia FTA be effective?
After the formal signing of the China-Australia FTA, the two countries will fulfill their respective domestic approval procedures. Upon completion of the ratification process, the two governments will determine the specific effective time through diplomatic channels and take notes with each other so that the agreement will enter into force as soon as possible.
China-Australia FTA negotiations lasted ten years, experienced what kind of process?
From April 2005 to April 2005, the leaders of the two countries announced a substantive conclusion of the negotiations, the Sino-Australian FTA negotiations were carried out 21 rounds and dozens of small-scale consultations.
In October 2003, China and Australia signed the “China and Australia Trade and Economic Framework” and decided to conduct a joint study on the feasibility of FTA. In March 2005, joint research was completed, that the Sino-Australian free trade area feasible, the overall will bring tangible benefits to the two countries.
As a result, the negotiations were officially launched in April. May 2005 to July 2013, the two countries held a total of 19 rounds of negotiations, made great progress at the same time, difficult problems have failed to achieve a breakthrough.
In April 2014, President Xi Jinping and Premier Li Keqiang met with visiting Australian Prime Minister Abdullah Ahmart. The leaders of the two countries have accelerated the negotiation process and reached an important consensus on an early agreement and a positive momentum in the negotiations.
Since then, the two delegations have held uninterrupted intensive consultations, including the 20th and 21st rounds of negotiations, the two trade ministers in the pragmatic push to negotiate ideas to reach an agreement, the pace of negotiations continue to accelerate, the two sides gradually narrowed. From October to November, the two delegations carried out the final stage of the negotiations, after more than 20 days and nights of work, and ultimately to reach the same content.
On November 17, when President Xi Jinping paid a state visit to Australia, he and Prime Minister Abbot jointly confirmed and announced the substantive conclusion of the China-Australia FTA negotiations
Minister of Commerce Gao Hucheng and Australian Trade and Investment Minister Andrew Rob signed the “Statement of Intentions between the Government of the People’s Republic of China and the Australian Government on the substantive conclusion of the China-Australia FTA negotiations” witnessed by the leaders of the two countries. Which lasted for nearly a decade.
FTA signing date and Tax rate
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FTA process of negotiating
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- China – Chile High grade