U.S. Australian Sign Free Trade Agreement

WASHINGTON - Feb 8/04 - SNS -- The United States and Australia signed a free trade agreement in Washington today, giving duty free access to the United States for over 97% of Australia's manufacturing exports and a zero tariff on 66% of the agricultural tariffs now in place.

The agreement was signed by Australian Trade Minister Mark Vaile and U.S. Trade Representative Bob Zoellick.

The agreement includes:

* Immediate, free and open access to the US market for Australian exporters of almost all manufactured goods and services;

* Duty-free access from day one for over 97% of Australia's manufacturing exports to the US, worth $5.84 billion last year;

* Substantially-improved access for Australia's agricultural sector, including for our beef and dairy producers, with more than 66% of agricultural tariffs going to zero from day one of the Agreement;

* Full access for Australian goods and services to the $270 billion market for federal government procurement in the United States; and,

* Enhanced legal protections that guarantee market access and non-discriminatory treatment for Australian service providers in the US market

Vaile and Zoellick said critical elements of Australian public policy have not been compromised.

* The systems we have in place to ensure that our health and our environment are protected, such as our quarantine regime, are not affected.

* The Pharmaceutical Benefits Scheme (PBS), in particular the price and listing arrangements that ensure Australians access to quality, affordable medicines, remains intact.

* The right to examine significant foreign investment proposals in all sectors, to ensure they do not raise issues contrary to the national interest, is retained.

* Our right to ensure local content in Australian broadcasting and audiovisual services, including in new media formats, is retained.

* Australia's single-desk arrangements for marketing Australian commodities to the world, such as for sugar, rice, wheat and barley, are not affected.

The subscriber version of the article is available by Clicking here