FTA Agreement with ASEAN

August 30, 2008 International FinanceNew Zealand Finance  No comments

New Zealand and Australia has reached a free trade agreement with ten southeast Asian nations. Negotiations between The Association of Southeast Asian Nations (ASEAN), New Zealand and Australia have finally conclude in Free-Trade Agreements, on both goods and services. The accomplishment has been hailed as a milestone for New Zealand by Wellington Regional Chamber of Commerce Chief Executive, Charles Finny.

It is expected that the full details of the Free Trade Agreement between the ten nations of the ASEAN, Australia and New Zealand will be worked out in December, along with some small issues which still remain.

The ASEAN states consist of Vietnam, Thailand, Singapore, Philippines, Myanmar, Malaysia, Laos, Indonesia, Cambodia, Brunei Darussalam. The sheer size of the economy represented by this collection of nations is expected to be a large boost to the New Zealand economy.