After entering into the Asian Century, Australia and New Zealand’s trade has increasingly shifted towards Asia, away from traditional European trading partners. This shift is reflected in the number of Free Trade Agreements (FTAs) that both countries have in place with Asian countries. In effect, these agreements provide preferential treatment for companies from these markets, at the expense of other exporters.
Australia currently has 10 FTA’s in place, while New Zealand has FTA’s with 16 WTO members.
|Free Trade Agreements in Place with Following Countries|
|Australia||NZ; Singapore; USA; Thailand; Chile; ASEAN (8 parties); Malaysia; Korea; Japan; China|
|New Zealand||Australia; China; Thailand; Singapore; Brunei; Malaysia; Chile; Hong Kong; Taiwan; ASEAN|