|| Author: Duncan Riley|

Malaysia Australia Free Trade Agreement Form

8. This clause is the formal enabling provision for the timing of the bill, provided that each act adopted in a timetable is amended according to the applicable points of the timetable. This bill amends the Customs Act. . The main and main joint committee of the free trade agreement will meet within three years of the EIF to begin discussions on the timing of non-establishment-compliant investment measures for non-service sectors and complete them within five years of the EIF date. 4. Contracting parties should also hold consultations on non-tariff measures to determine the flexibility to free up additional means to facilitate bilateral trade in goods. The agreement contains the obligations of both countries to liberalize trade in goods. . The parties will meet within three years of the EIF and at least every five years after, to review trade in services commitments to improve these commitments.

40. Mafta will support and contribute to Australia`s economic relations with Malaysia, the region`s trading partner and neighbour. MaFTA has considerable potential to create new business opportunities for Australian producers of goods and services and to strengthen Australia`s investment relationship with Malaysia. MAFTA can also lead to an increase in Malaysian exports and investment to Australia. As mentioned above, Australia`s two-lane trade with Malaysia accounted for $16.0 billion in 2011, or 2.6% of Australia`s total two-way trade in goods and services. . The move to an open licensing system for part of the tariff quotas is not just an economically viable commitment and a major reform of Malaysia; It is also an important precedent on how a free trade agreement can be used to make commitments on a significant non-tariff barrier. 10. The provisions of this chapter provide for a complete accumulation, in which every raw material and processing taking place in Australia or Malaysia is accounted for in the manufacture of a product other than the original content. In the case of full accumulation, the entire preferential territory created by the free trade agreement is considered a single territory. In determining the origin of these products, it is taken into account not only the original products used in their manufacture, but also the destination of the product originating in the territory.

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