Australia presented trade initiatives or trade agreements with countries or groups of countries in the table below. This short guide provides a short background to Australia`s preferential trade agreements (PTAs, often referred to as free trade agreements), including what they are, what they cover and whether they have been effective in improving Australia`s overall economic well-being. Centre for International Economics, Economic Analysis of AUSFTA: Impact of the bilateral free trade agreement with the United States, april 2004, p. 39, available from www.dfat.gov.au/trade/negotiations/us_fta/economic_analysis_report/austfta_report_040428.pdf Australia maintains close trade relations with the rest of the world. The site has also enabled Australia to become a major supplier to markets in the Asia-Pacific region. On February 8, 2004, Trade Minister Mark Vaile announced that Australia and the United States had approved the U.S. Free Trade Agreement (AUSFTA) in Australia. (1) The full text was published on 4 March 2004. (2) An important part of the agreement is Chapter 17 on Intellectual Property Rights (Intellectual Property Rights), which includes copyright, trademarks, patents and industrial design. (3) R.B. Zoellick, Our Credo: Free Trade and Competition, The Wall Street Journal, 7 October 2003, on www.ustr.gov/speech-test/zoellick/2003-07-10_WSJ.htm Faced with the increasing integration of ISDS provisions into international agreements and the growing awareness of the risks and “systematic deficiencies” of the process, UNCTAD has mapped five reforms to the system.
Its short-term proposals included promoting out-of-court settlement of disputes, adapting the current transparency system and limiting investor access to ISDS. In the long term, the aim would be to completely overhaul the system by replacing the current system of ad hoc tribunals with the creation of a permanent international investment tribunal. For more information on exports and imports, including trade agreements, tariffs and tariffs, see below. The Australian government is pursuing a series of measures to develop and support Australian businesses involved in international trade.