Australia New Zealand Agreement

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). 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 In recent decades, many New Zealanders have emigrated to Australian cities such as Sydney, Brisbane, Melbourne and Perth. [45] Many of these New Zealanders are Australian. Although this agreement is reciprocal, it has resulted in a significant net migration from New Zealand to Australia. [46] In 2001, there were eight times as many New Zealanders in Australia as Australians in New Zealand[47] and in 2006, it was estimated that Australia`s real income per person was 32 per cent higher than that of New Zealand and its territories. [48] Comparative surveys of average household income also confirm that average household incomes are lower in New Zealand than in most Australian countries and territories. Visits to each direction exceeded one million in 2009, and there are about half a million New Zealanders in Australia and about 65,000 Australians in New Zealand. [49] In New Zealand, there have been complaints that there is a clearly emitted brain drain to Australia.

[50] We are negotiating a revaluation of our existing free trade agreement with ASEAN to modernize it, further reduce export barriers and boost trade in the region. JSCFADT, Report 128, Review of the Operation of the free trade agreements with Singapore, Thailand and the United States of America – progress to date and lessons for the future, Canberra, november 2005. The protocol reduces compliance costs and provides trans-Tasman investors with greater legal certainty by setting higher thresholds for foreign investment. AANZFTA is Australia`s first multi-country free trade agreement.