Prosperity in Co-Operation: The Asean-Australia-New Zealand Free Trade Agreement (AANZFTA)

Abstract

This article examines how and the extent to which the ASEAN-Australia-New Zealand FTA (AANZFTA) liberalises and integrates trade within the Asia Pacific region. It examines the economic growth of ASEAN and the development of trilateral negotiations between ASEAN, Australia and New Zealand to establish a free trade area. The politics, framework, scope, operation, benefits and effect of the AANZFTA are considered. Trade in goods, services and off-shore investment are analysed. The importance of co-operation to the AANZFTA is revealed in Australia and New Zealand’s recognition of Viet Nam as a market economy, and the Economic Co-operation Work Programme (ECWP) through which the parties work together to realise the potential benefits of the AANZFTA.