Negotiations of the Australia-Korea Free Trade Agreement (KAFTA) were concluded in December 2013.
IMPLEMENTATION TIMELINE:
- The governments of Australia and Korea agreed to make the final text of the Agreement publicly available in February 2014.
- Australia and Korea are planning for signature to take place during the first half of 2014.
- Amendments to relevant legislation will need to be passed by Parliament and receive royal assent.
- Australia and Korea are aiming to complete their domestic treaty processes towards the end of 2014. Both countries will Exchange Diplomatic Notes to certify they are ready for entry into force of the Agreement. 30 days after this Exchange of Notes, KAFTA will enter into force (probably early 2015).
For further information please see http://www.dfat.gov.au
