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 streamlines customs processes, improves the flow of essential goods during crises, and reduces 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,” Trade and Investment Minister Todd McClay says.
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 $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,” McClay says.
“With ASEAN marking 50 years of dialogue with New Zealand this year, the upgrade highlights the Government’s commitment to strengthening ties and unlocking new opportunities for exporters.”
