treaties TMFF

Question 1

→Australia and Japan recently signed a Free Trade Agreement (2014)

Answer 1

• Tariffs on shrimps, prawns etc will be eliminated
• This means that these Australian producst will be cheaper in Japan because of higher demands
• Memorandum of Understanding by Global Aquaculture Alliance (GAA) and ahev identified requirements for responsible sourcing of fishmeal and fish oil
• This could increase prices of fishmeal

Question 2

→World Trade Organisation

Answer 2

• 160 membver countries, most international seafood trade is bound bby WTO trade agreements
• Fishery products still subject to high tariffs, WTO tries to reduce these plus other barriers to trade, control sanitary measures and dumping (Offloading a stock with little regard for its price)

Question 3

→ Association of Southeast Asain Nations (ASean) and Australia- NZ Free Trade Area

Answer 3

Extensive tarrif reduction and elimination commitments
Economic cooperative projects
Business outreach activities, legal protections for investment in ASEAN territories
ALL BENEFITS TMFF