Closer Economic Relations Agreement With New Zealand

Calendar: The ERC replaced the 1965 Australian Free Trade Agreement (NAFTA) in New Zealand. Discussions began in the late 1970s and a new agreement was reached in December 1982. The ERC came into force in January 1983. We are also working to create a cross-Tasman approach combined for trade with the rest of the world. New Zealand has a second free trade agreement with Australia – AANZFTA – between New Zealand, Australia and the Association of Southeast Asian Nations (ASEAN). In most cases, you are better off using the ERC to export goods to Australia. Although the ERC is constantly reviewed and developed by the New Zealand and Australian authorities, this is the first review by the Joint Committee on Foreign Affairs, Defence and Trade. The Committee has an interest in reviewing Australia`s free trade agreements after reviewing codecision with Singapore, Thailand and the United States in 2005 (2). The Australia-New Zealand Closer Economic Relations Trade Agreement (CER) is a free trade agreement between the governments of New Zealand and Australia. On March 28, 1983, the treaty itself was signed only by the Australian Deputy Prime Minister and Trade Minister Lionel Bowen and the New Zealand High Commissioner for Australia, Laurie Francis, in Canberra, Australia. In both the Australian and New Zealand business communities, there was a request to extend the ERC to other Pacific Island states by harmonizing the ERC and the Pacific Regional Trade Agreement (PARTA) in order to move towards an internal market and allow the free movement of people and goods. [Citation required] The open and frank discussions with the New Zealand economy and leaders and the New Zealand government`s access to the delegation demonstrate the importance attached to the secessionist relations between Tasmans and are a good sign for the future.

The 2013 ERC Investment Protocol is an ambitious investment agreement and maintains the ERC`s status as one of the most comprehensive free trade agreements in the world. The protocol reduces compliance costs and provides trans-Tasman investors with greater legal certainty by setting higher thresholds for foreign investment. On December 14, 1982, the Prime Ministers of Australia and New Zealand signed an agreement on RECs that allowed the agreement to enter into force on January 1, 1983. The contract itself was signed on March 28, 1983 (3). The Australia New Zealand Closer Economic Agreement (ANZCERTA), which came into force in 1983, was the first bilateral agreement in Australia. ANZCERTA has created one of the most open and successful free trade agreements in the world. The 1983 Agreement on Closer Economic Relations between Australia and New Zealand (ERC) is by far the oldest of Australia`s four free trade agreements with other countries – Australia has free trade agreements with Singapore (July 2003); Thailand (January 2005); United States (January 2005).