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Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) and Regional Integration

Robert Scollay, Christopher Findlay and Uwe Kaufmann

Publication Year: 2010

The origins, evolution and impact of the Australia New Zealand Closer Economic Relations Trade Agreement are examined in this book. ANZCERTA is often referred to as a benchmark for trade agreements. Not only does the book examine the agreement and how it evolved, but it also provides lessons for others, particularly in ASEAN, as they work on regional on bilateral economic relations. The special features of the Agreement are identified, and its evolution is charted. Current debates are reviewed, and assessments of its impact are discussed. Ten lessons for the designers of other agreements are presented.

Published by: Institute of Southeast Asian Studies

Title Page, Copyright Page

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Contents

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pp. v-vi

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Foreword

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pp. vii-xi

The ASEAN Studies Centre at the Institute of Southeast Asian Studies (ISEAS) has been casting an analytical eye on regional, intergovernmental associations elsewhere in the world. It has published a study on the Common Market of the South (MERCOSUR) made up of Argentina, Brazil, Paraguay, and Uruguay. ...

Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) and Regional Integration

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pp. 1-2

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Executive Summary

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pp. 3-17

Economic integration between Australia and New Zealand, with ANZCERTA as its central instrument, is today widely regarded as a success story. Tariffs and quantitative restrictions on bilateral trade in goods have been completely removed, trade in services between the two countries has been liberalized to a very large extent, ...

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1. Introduction

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pp. 18-19

Economic integration between Australia and New Zealand, with the Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) as its central instrument, is today widely regarded as a success story. Tariffs and quantitative restrictions on bilateral trade in goods have been completely removed, ...

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2. Background

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pp. 19-22

There are a number of characteristics of Australia and New Zealand, and the relations between them, that are important for an understanding of the economic integration achieved through ANZCERTA and subsequent developments. ...

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3. Pre-ANZCERTA Trade Arrangements

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pp. 22-

A New Zealand Australia Free Trade Agreement (known at the time as NAFTA) was established in 1967. This was a “positive list” agreement, in which the tariff reduction and elimination schedules applied only to an agreed list of products on each side. A process of regular consultations was established for adding further products ...

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4. Early Years of ANZCERTA

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pp. 22-26

Consistent with the desire to make a fresh start, ANZCERTA was a “negative list” agreement, in contrast to the “positive list” approach of its predecessor agreement. In its initial form, however, ANZCERTA was a cautious, even timid agreement. This was a reflection of the very strong opposition faced by both governments ...

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5. Consolidation of ANZCERTA

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pp. 26-34

Agreement was reached to accelerate dramatically the liberalization of goods trade, so that remaining tariffs and quantitative restrictions on all goods traded between the two countries, including those hitherto subject to “modified arrangements”, were eliminated by 1990. ...

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6. Deepening Integration

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pp. 34-57

The period since the early 1990s has seen the further formalization and deepening of economic integration between the two countries across the broad range of issues covered in the integration framework that had been established at the end of the preceding decade. ...

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7. Pursuit of a Single Economic Market (SEM)

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pp. 57-68

For many years ANZCERTA was the only preferential trade agreement in which either country was involved, excluding the non-reciprocal South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) with the independent Pacific island states, and Australia’s Papua New Guinea-Australia Trade and Commercial Relations Agreement (PATCRA) ...

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8. Further Monetary Integration:A Monetary Union?

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pp. 68-70

Given the degree of economic integration achieved between Australia and New Zealand, it is perhaps natural that the possibility of a monetary union between Australia and New Zealand should have been considered. Interest in this issue has been confined almost entirely to New Zealand. ...

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9. The Economic Effects of ANZCERTA

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pp. 70-99

Most studies of the economic effects of ANZCERTA have focused on its impact on trade, typically the impact on merchandise trade, usually with a view to deriving estimates, or more commonly inferences, as to its impact on the overall economic welfare of the partners. ...

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10. Conclusion: Possible Lessons for ASEAN

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pp. 99-102

This concluding section of the report briefly highlights some of the distinctive features of the process of economic integration between Australia and New Zealand, before going on to consider possible lessons for ASEAN. ...

Notes

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pp. 102-106

References

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pp. 106-115

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About the Authors

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pp. 116-

Robert Scollay is associate professor of economics and director of the APEC Study Centre at the University of Auckland in New Zealand. He has researched and written extensively on regional economic integration issues, as well as other trade policy issues, with special emphasis on developments in the Asia-Pacific region. ...


E-ISBN-13: 9789814279987
Print-ISBN-13: 9789814279970

Page Count: 116
Publication Year: 2010

Edition: 1

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Subject Headings

  • Australia. Treaties, etc. New Zealand 1983 Mar. 28.
  • Australia -- Commerce -- New Zealand.
  • New Zealand -- Commerce -- Australia.
  • Australia -- Foreign economic relations -- New Zealand.
  • New Zealand -- Foreign economic relations -- Australia.
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