This chapter defines the framework of the free trade agreement. It states that the provisions are in line with the relevant sections of the 1994 General Agreement on Tariffs and Trade (GATT) and the General Agreement on Trade in Services (GATS). Both GATT and GATS are documents created by World Trade Organization (WTO) agreements that set limits on future bilateral agreements such as the United States of Australia. Free trade agreement. o Beef: U.S. quota tariffs will expire over an 18-year period. Initial imports from Australia under the QRT quota will account for approximately 0.17% of U.S. beef production and 1.6% of U.S. beef imports. Quota increases will take effect when U.S. beef exports return to their 2003 level (before BSE) or three years after the agreement comes into force, depending on what happens first. The United States and Australia will cooperate with international organizations on BSE standards.
At the end of the transition period, price-based coverage will be available and designed to respond to disruptions in the high-quality beef market. · supports the development of an online trademark registration and maintenance system and a database to search. The agreement became an important political issue in the run-up to the 2004 elections. After a long period of negotiations under the leadership of Mark Vaile, Howard`s trade minister, the agreement was strongly supported by the Howard administration as a huge potential benefit to the Australian economy and essential to the continuation of the U.S.-Australia alliance. This section recognizes the rights and obligations of Australia and the United States to each other in addressing trade barriers. These rights and obligations have been defined in the WTO Agreement on Technical Barriers to Trade, which deals, among other things, with standards, rules and compliance assessment. ESTV has opened markets for services such as life insurance and express deliveries, improved intellectual property protection and helped facilitate U.S. investment through predictable access and a stable business environment. For the first time, U.S. companies in many sectors are not allowed to compete with Australian government purchases. U.S. agricultural exports receive duty-free treatment, including processed food products, fruits and vegetables, corn and soybeans.
The free trade agreement has also made progress in the area of e-commerce and access to the drug market. Article 19.2 states that “the parties recognize that it is inappropriate to promote trade or investment by weakening or reducing the protection of their respective environmental laws.” The United States