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China&Australia Free Trade Agreement comes into force 2016-07-08
The China–Australia Free Trade Agreement (ChAFTA) is a bilateral Free Trade Agreement (FTA) between the governments of Australia and China. Since negotiations began, 21 negotiating rounds were completed. The deal was completed and the details of the deal released on 17 November 2014.,nearly 10 years after its first round of negotiations that began on 23 May 2005 after a joint feasibility study. The free trade agreement was signed between the two countries on 17 June 2015. The agreement will follow the usual treaty making process whereby it will come into force when China completes its domestic legal and legislative processes and when Australian Parliament’s Joint Standing Committee on Treaties and the Senate Foreign Affairs, Defence and Trade References Committee finish the review. The agreement enter into force on 20 December 2015, trailer business between China and Australia will also benefit from it.