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Synopsis of Yu Wun's Commerce Presentation on the US-Australian Free Trade Agreement.
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Synopsis of Yu Wun's Commerce Presentation on the US-Australian Free Trade Agreement What is a Free Trade Agreement? • A free trade agreement (FTA) is an agreement between two countries or amongst groups of countries aimed at a policy of non-intervention in trade between their nations. • Tariffs and non-tariff barriers to trade are usually removed or lowered, while each country maintains its own commercial policy towards countries who are not part of the FTA. • Examples are the North Atlantic Free Trade Agreement (NFTA) amongst the United States, Mexico and Canada. The US-Australia Free Trade Agreement's History • On 18 May, 2004, Australia's Trade Minister Mark Vaile and United States Trade Representative Robert Zoellick signed the Australia United States Free Trade Agreement in Washington. • Negotiations on the AUSFTA were finalised in February after 11 months of talks between the two countries. • The signing of the agreement by Mr Vaile and Mr...
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