Free Trade, not just for big business

Among the endless stream of EOFY tips and announcements, you might have missed the news that Australia recently entered negotiations for yet another free trade agreement (FTA).

This time the agreement is with the Pacific Alliance nations of Chile, Colombia, Mexico and Peru, and comes on top of recent FTAs with Japan, Korea, China and a host of other Asian countries.

These agreements often make the headlines for big business such as agricultural and industrial exporters, but for small business there are plenty of opportunities as well.

Not only does free trade break down tariff barriers to international markets, it also helps Australian business to be more competitive by providing access to cheaper inputs from overseas.

Small to medium business will be particularly interested in the fact many of these agreements open up markets to legal, accounting, financial, educational and other professional services. You can find an overview of the key North Asian agreements here.

For more specific information about what’s in the Free Trade Agreements for your business, DFAT’s Free Trade Portal offers a range of information and advice for exporters and importers looking to access international markets.