Singapore businesses poised to benefit from streamlined trade and investment opportunities under the enhanced AANZFTA.
SINGAPORE – The upgraded ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) agreement has officially entered into force as of 21 April 2025, marking a significant milestone in regional economic cooperation. This enhancement aims to bolster trade, investment, and sustainable development among the member nations.
The revised agreement introduces comprehensive improvements, including simplified rules of origin, enhanced e-commerce provisions, and a dedicated chapter on trade and sustainable development. These updates are designed to facilitate smoother cross-border transactions and provide greater certainty for businesses operating within the region.
Singapore’s Ministry of Trade and Industry highlighted that the upgraded AANZFTA offers tangible benefits to local enterprises, particularly in areas such as e-commerce, investment, services, consumer protection, and government procurement. The agreement is expected to promote resilience in supply chains and ensure the steady flow of essential goods during disruptions.
The agreement also introduces new chapters focusing on government procurement, micro, small, and medium enterprises (MSMEs), and trade and sustainable development. These additions aim to foster inclusive economic growth and address contemporary challenges in international trade.
The AANZFTA, originally established in 2010, encompasses a market of over 700 million people with a combined GDP exceeding US$5.9 trillion. The recent upgrades reflect the member countries’ commitment to adapting the agreement to current global economic dynamics and ensuring it remains a robust framework for regional cooperation.
Source: Ministry of Trade and Industry, Singapore
