An upgraded ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) has come into effect, strengthening New Zealand’s trade ties with Southeast Asia and Australia.
The agreement has streamlined customs processes, improved the flow of essential goods during crises, and reduced non-tariff barriers, making it easier for New Zealand businesses to trade across the region.
“At a time of global uncertainty, this upgrade gives Kiwi exporters the certainty they need to grow their businesses, create jobs, and boost the economy,” said Trade and Investment Minister Todd McClay.
ASEAN — which includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — is New Zealand’s fourth-largest trading partner. Combined with Australia, two-way trade under AANZFTA is worth more than NZD 59 billion a year.
“Most of our goods already enter ASEAN markets tariff-free. This upgrade sharpens the rules for services, e-commerce, and supply chains, giving Kiwi businesses the tools to trade more efficiently and compete with confidence,” added McClay.
AANZFTA entered into force in 2010. The number of countries involved in AANZFTA and the length of time it’s been in force make this agreement a key pillar in New Zealand’s relationship with South East Asia.
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