Three new FTAs welcome as WTO remains in quagmire

“Ai Group welcomes the addition of the three latest new Free Trade deals to Australia’s international architecture. As the quagmire in the World Trade Organisation continues, it is essential that Australia creates a network of such bilateral and multilateral deals to provide certainty and security for Australian businesses,” Ai Group Chief Executive, Innes Willox, said today.

“The agreement with Indonesia will provide an opportunity to realise missed opportunities in this growing market. The improvements in trade facilitation are a big plus for Australian and Indonesian companies, and will ensure that we have the economic integration in place to create alternative regional supply chains.

“Hong Kong has always been an important base for Australian companies in Asia. This FTA will lock in commitments in e-commerce rules that will position us to take advantage of trade of the future.

“While Peru isn’t currently in our top twenty markets, this agreement will be an essential element in Australia’s market diversification strategy and provide a new entry point into South America,” Mr Willox said.

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