ASEAN-5: ASEAN, Australia and New Zealand sign FTA Upgrade including competition regulation

On 21 August 2023, the Upgrade to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) was signed. The AANZFTA upgrade includes a chapter on competition regulations, the purpose of which is to promote fair and open markets among member countries. The chapter introduces commitments for the implementation and enforcement of competition laws and regulations. The provisions encourage cooperation and clarity in addressing anti-competitive practices. This chapter is intended to support adherence to competition principles across jurisdictions within the free trade area.