To this end Mr. Vaile had instructed officials from the Department of Foreign Affairs and Trade to undertake an analysis of the economic and trade implications of an FTA with the GCC as a whole.
Background: Australia, a champion of multilateral negotiations on liberalizing world agricultural trade, has of late been much more active in pursuing bilateral free trade agreements (FTAs).
In addition to Australia's long-standing Closer Economic Relations agreement with New Zealand that went into effect in 1983, Australia now has comprehensive free trade agreements with the United States, Thailand, and Singapore, and is currently negotiating FTAs with China, ASEAN (with New Zealand), and Malaysia. Further, Australia is conducting a feasibility study of an FTA with Japan.
Total 2005 Australian agricultural exports to the countries in the GCC reached $804 million. Leading categories included: live animals ($187 million), dairy products ($178 million), cereal products ($168 million), and meat products ($156 million).
United States Department of Agriculture Foreign Agricultural Service
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