Word: fta
(lookup in dictionary)
(lookup stats)
Dates: during 2004-2004
Sort By: most recent first
(reverse)
...confirm this. "It's not about Mark, it's not about supporting Howard, it's about policy ideas," he insists. The story, it's agreed, will be vigorously chased. Washington correspondent Roy Eccleston is called, late at night his time, and asked to write a piece on the FTA vote - straight away. The clock ticks...
...much is the deal worth? Two-way trade in goods and services between the countries is worth about $28 billion a year, with a $9 billion trade surplus to the U.S. Mutual direct investment is worth $60 billion. Once the FTA comes into effect (and it could be as early as Jan. 1, 2005), all American farm products and more than 99% of U.S.-made goods will land in Australia duty free. The share of Australian exports with that status will be smaller, because U.S. farm protection is extensive and will remain so. American producers estimate that they could sell...
...upper hand? Australia's government wanted (needed, even) an FTA more than the U.S. did. Culturally and economically, America is where Australian exporters hope to make it. And smaller countries tend to benefit more than larger ones in such deals; just ask Canada and New Zealand. If the aim of the game is to reduce protection at home and abroad - because protection ultimately hurts consumers and impedes the market - the more open nation (Australia) wins...
...Will the FTA get legislative approval? Despite the flaws and compromises, the deal deserves to become law. But it's an election year in both countries, and time is running out for law makers. Democratic candidate John Kerry and Labor Opposition leader Mark Latham are free traders at heart (who knows - President-elect Kerry and Prime Minister Latham may be congratulating each other come New Year's Day). But the anti-free-trade scaremongers and interest groups will be shouting louder this year than the champions of an almost-free trade agreement. It's just too tight to call...
What's the bottom line? An FTA brings two countries closer. Its hundreds of minor concessions may go almost unnoticed at the time yet one day add up to something big. These tiny changes could mean the difference in getting a small business up and away, or be the start for such intangibles as new friendships, networks, and marriages. The deal could become the basis for further talks that again create winners and losers on both sides. Or the current agreement itself may be the high point; officials in both countries will explore new trade frontiers elsewhere. It's premature...