Thailand-Australia free trade by next year

摘要

The Thailand-Australia Free Trade Agreement (TAFTA) was announced on 19 October 2003 with the text of the agreement released on 12 May 2004. Both the Thai and Australian governments are aiming to have the agreement in force by the beginning of 2005. TAFTA is Thailand's first FTA with an OECD country and first comprehensive FTA covering trade in goods and services, as well as investment. TAFTA's key provisions on services are modelled on international obligations under the WTO's General Agreement on Trade in Services (GATS). Australia's commitment under TAFTA is essentially a standstill of our GATS obligations, meaning that no additional liberalisation will be undertaken in Australia as a result of TAFTA. However, Thailand will make a number of changes that will improve the environment for bilateral services and investment trade.