3: Free Trade Agreements
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5 Terms
What are Free Trade Agreements (FTA)
Agreements between two or more partner countries, removing the barriers to trade
Advantages of FTAs
Australian companies can more easily expand
Australian businesses are more competitive
Protections for investors and their investments
Importing is cheaper and easier
Disadvantages
Increased Competition
Reduced government assistance (ANZCERTA)
Prone to political relations (may become dependent)
Consumers import from other countries easily
Key Features of the AANZFTA
Between Australia, New Zealand and the ASEAN nations
Key Features:
Reduction of 96% of tariffs on trade
Easier travel for natural persons
Country of Origin laws
International Arbitration
Protection for investors and investments
Key features of ANZCERTA
Between Australia and New Zealand
Key Features
Elimination of government support
Elimination of all tariffs
Standardised food laws
Note 
Flashcards (22)