China-Australia Free Trade Agreement

[2] Customs Act 1901 (Cth) and Customs Tariff Act 1995 (Cth), accessed September 20, 2015. It should be noted that chafta itself does not need the approval of Parliament. Because the negotiation and conclusion of treaties such as free trade agreements is the responsibility of the executive. In addition to the above-mentioned commitments, China has agreed to review its services obligations in the future, introducing a “negative list approach”. Such a list prohibits services that are not covered by a trade agreement. Australia has adopted this approach in its service obligations under the ChAFTA. In general, the services chapter will be reviewed every two years (or as otherwise agreed) “with a view to the progressive liberalization of trade in services between [China and Australia] on a mutually beneficial basis”. [92] Accordingly, paragraphs 12 and 17 provide that goods originating in China are exempt from customs duties at the beginning of those goods, unless the proposed List 12 sets a customs duty. The China-Australia Free Trade Agreement (ChAFTA) is a bilateral free trade agreement (FTA) between the Australian and Chinese governments. Since the beginning of the negotiations, 21 rounds of negotiations have been concluded. [1] The agreement was concluded on 17 November 2014 and published two days later[2] almost 10 years after the first round of negotiations, which began on 23 May 2005[3], following a joint feasibility study.

The free trade agreement between the two countries was signed on June 17, 2015. [4] In accordance with the usual procedure for concluding the contract, the agreement entered into force on 20 December 20 The Australian Parliament`s Standing Joint Committee on Treaties and the Senate`s Committee on Foreign Affairs, Defence and Trade References carried out a review on 1 December 2015. [4] [5] The establishment of the China-Australia Free Trade Area not only facilitates trade and investment between the two countries, but also contributes to the stability of development in the Asia-Pacific region and the liberalization of world trade. The first round of negotiations took place in Sydney on 23 May 2005. The Australian Labor Party has said it supports a free trade agreement with China, although reservations have been expressed about possible labour agreements under the agreement: the Free Trade Agreement between China and Australia brings real benefits to the Australian wine sector. . . .

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