Australia Free Trade Agreement With Vietnam

But this is the nation that Washington and Canberra feared would be the first in a series of dominoes that would fall under communism in Southeast Asia. But when Americans fought with the help of Australia in the 1960s to maintain a bloody line in Vietnam, the export-oriented Asian economic miracle, which brought capitalist prosperity and not Marxism-Leninism, already began in Singapore, Malaysia and Thailand. Years of Cold War with the rest of Southeast Asia followed in the 1980s, after the invasion of Cambodia by victorious Vietnam, and then a border war with China, when old rivalries erupted among former allies against the Americans. This changed again when Vietnam followed China`s economic example in 1986 with the Doi Moi reform and restructuring program, as well as the 1991 Cambodian peace agreement led by Australia. This eventually brought Vietnam into Asia`s prosperity zone, which was sealed when Hanoi joined the Association of South Asian Nations in 1995, a crucial regional group that courted Australia at an extraordinary summit in Sydney last year. 6.10 Minter Ellison`s overall assessment of investment services and provisions was more modest. The company considered access to the services market to be „modest but nevertheless important“. It notes that, in general, the agreement marks a „shutdown“ of services and maintains the existing level of protection; There is little „rollback“ of these levels. [11] A Comprehensive Free Trade Agreement that removes as many direct and indirect barriers to Australian investment in Indonesia as possible would improve bilateral relations in a number of important reports. First, Indonesia would be better placed to attract Australian investment, particularly in the mining and important commodities sectors.

Second, Indonesian investors could become more familiar and confident in their ability to exploit the investment opportunities they have in Australia. [48] The study concludes that the case for a free trade agreement with Malaysia is very strong. Accordingly, it recommends that Australia enter into negotiations with Malaysia with a place to conclude a comprehensive and coherent free trade agreement with the WTO. In the area of investment, the study shows that while the level of investment between Indonesia and Australia is significant, it is below average relative to the growth of bilateral trade and Australian investment in some other ASEAN economies. Australia and Vietnam are parties to the ASEAN-Australia-New Zealand Free Trade Agreement, which entered into force on 1 January 2010. Vietnam ratified the agreement on 24 June 2009. Australian companies are generally well received in Vietnam. Australia is considered a modern, technologically advanced and friendly country in Vietnam`s immediate area of interest. Long-term trade and investment opportunities are expected to increase, in line with Vietnam`s progress in implementing its legislative and administrative reform programme.

The government has implemented an ambitious structural reform that addresses economic challenges such as public debt, OFFSETTING PUBLIC AND PUBLIC EMISSIONS, non-trade barriers and environmental sustainability, social justice and emerging issues of macroeconomic stability. . . .