Free trade agreements (FTAs) are essential to any country`s economic growth. They allow for the free flow of goods and services between nations, opening up new markets and creating jobs. Australia has signed a number of FTAs with several countries, providing significant benefits for both parties involved.
Here are some of the countries that have signed FTAs with Australia:
1. New Zealand
New Zealand and Australia signed the Closer Economic Relations (CER) agreement in 1983, which created a free trade area between the two nations. This agreement has allowed for the free flow of goods and services, as well as the movement of people between the two countries.
2. Singapore
Australia signed an FTA with Singapore in 2003, which provided for the elimination of tariffs on almost all goods traded between the two countries. This has led to an increase in bilateral trade, particularly in the areas of education, tourism, and financial services.
3. Thailand
Australia signed an FTA with Thailand in 2005, which eliminated tariffs on many goods and services. This has led to an increase in trade between the two countries, particularly in the areas of agriculture, education, and tourism.
4. United States
Australia signed an FTA with the United States in 2005, which eliminated tariffs on many goods and services. This has led to increased trade between the two countries, particularly in the areas of agriculture, manufacturing, and services.
5. China
Australia signed an FTA with China in 2015, which eliminated tariffs on many goods and services. This has led to an increase in trade between the two countries, particularly in the areas of agriculture, resources, and services.
6. Japan
Australia signed an FTA with Japan in 2014, which eliminated tariffs on many goods and services. This has led to an increase in trade between the two countries, particularly in the areas of agriculture, resources, and services.
In conclusion, FTAs are crucial to any nation`s economic growth, as they allow for the free flow of goods and services between nations. Australia has signed several FTAs with different countries, each offering a unique set of benefits to both parties involved. These deals have allowed for more trade and investment opportunities, which in turn has led to increased economic prosperity.