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Questions and Answers
What is a unique feature of the FTA between ASEAN, Australia, and New Zealand?
What is a unique feature of the FTA between ASEAN, Australia, and New Zealand?
- It is a bilateral free trade agreement between Australia and New Zealand.
- It is a limited free trade agreement covering only a few sectors.
- It is a regional free trade agreement between only ASEAN countries.
- It is the first plurilateral free trade agreement negotiation embarked upon by New Zealand and Australia as a joint party. (correct)
How many people are opened up to new opportunities by this FTA?
How many people are opened up to new opportunities by this FTA?
- Approximately 500 million people
- Approximately 663 million people (correct)
- Approximately 200 million people
- Approximately 1 billion people
What is the aim of the FTA in terms of economic growth?
What is the aim of the FTA in terms of economic growth?
- To prioritize economic growth over social and environmental concerns
- To promote rapid economic growth at any cost
- To focus on economic growth in only ASEAN countries
- To aim for sustainable economic growth in the region (correct)
What kind of market and investment regimes does the FTA provide among its signatories?
What kind of market and investment regimes does the FTA provide among its signatories?
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How many signatories are there to the Agreement?
How many signatories are there to the Agreement?
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Study Notes
AANZFTA Overview
- Australia's first multi-country Free Trade Agreement (FTA)
- ASEAN's first FTA negotiation covering all sectors
Significance
- First plurilateral FTA negotiation undertaken by New Zealand and Australia as joint parties
Impact
- Creates new opportunities for approximately 663 million people in ASEAN, Australia, and New Zealand
Objectives
- Aims for sustainable economic growth in the region
- Achieved through a more liberal, facilitative, and transparent market and investment regime among the 12 signatory countries
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