Signed at Canberra, Australia, November 15, 1995
TRADE AND ECONOMIC COOPERATION ARRANGEMENT
THE GOVERNMENT OF CANADA
THE GOVERNMENT OF AUSTRALIA
THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF AUSTRALIA, hereinafter referred to as "the Parties";
DESIRING to enhance the special bonds of friendship and cooperation between the two countries;
ACKNOWLEDGING the mutual benefits that result from long-term and stable economic relations and the further development of their trade and investment relations;
REAFFIRMING, their shared strong commitment to an effective Agreement Establishing the World Trade Organization, based on clear and mutually advantageous rules governing multilateral trade;
RECOGNIZING their respective rights and obligations under the Agreement Establishing the World Trade Organization and other multilateral and bilateral instruments of cooperation;
NOTING the importance they attach to the further development of the role of the Asia Pacific Economic Cooperation (APEC) in the context of closer economic cooperation in the Asia/Pacific region, particularly the common goals expressed in the Bogor Declaration;
CONVINCED that the establishment of a framework for consultations between them on trade and investment will contribute to the growth of trade and investment between the two countries;
HAVE REACHED the following understandings:
PARAGRAPH 1: ESTABLISHMENT OF CONSULTATIVE GROUP
The Parties establish the Consultative Group on Trade and Economic Cooperation (hereinafter referred to as the Consultative Group) chaired by Cabinet-level representatives of the Parties responsible for international trade, or their designees, and comprising such other interested ministers or their designees as may be mutually decided from time to time.
PARAGRAPH 2: OBJECTIVES
The Parties will seek to:
(a);further liberalize and promote trade in goods and services and investment between them;
(b);identify and work toward the removal of measures that impede or distort trade and investment flows; and
(c);facilitate the increased involvement of the private sectors in both countries in bilateral trade, economic and commercial cooperation.
PARAGRAPH 3: CONSULTATIVE GROUP ON TRADE AND ECONOMIC
identify and promote opportunities for further liberalization of trade in goods and services and investment between them in accordance with Paragraphs 2 and 4 and pursuant to Annex A (Joint Work Program), and monitor and review trade and investment relations between the Parties, in accordance ,with Paragraph 5;
serve as a forum for consultations between the Parties on specific multilateral, plurilateral and bilateral trade and investment issues pursuant to Annex A; and
negotiate agreements where appropriate.
The Consultative Group will convene at least once a year in regular session, unless otherwise mutually arranged. Regular sessions of the Consultative Group will be hosted successively by each Party.
The Consultative Group may establish and delegate responsibilities to ad hoc or standing committees or working groups to facilitate its work.
The Consultative Group may, by the mutual consent of both Parties and where
appropriate, invite private sector representatives to participate as advisers at its meetings.
PARAGRAPH 4: PROMOTION OF TRADE AND INVESTMENT
The Consultative Group will encourage and facilitate trade and investment between the Parties and will foster cooperation between the Canadian and Australian private sectors through such initiatives as:
the Joint Work Program set out in Annex A;
identification of opportunities for alliances, identification of potential partners, information dissemination, seminars, trade or investment missions, introduction of potential partners, trade. and industrial fairs and exhibitions;
regular exchange of information and analyses on factors affecting bilateral trade and investment, on measures restricting trade in goods or services between the two countries, and on third country measures affecting the trade and investment interests of the Parties; and
encouragement of joint efforts in third markets.
PARAGRAPH 5: REVIEW OF TRADE AND INVESTMENT
The Consultative Group will meet within one year of the entry into effect of this Arrangement to review the progress and results of the Joint Work Program in Annex A, based on the reports referred to in Paragraph 5(2).
For the purposes of Paragraph 5(l), the Parties will provide the Consultative Group with a report or reports on the progress and results to date of the Joint Work Program in Annex A, including the options and proposed action for further trade and investment liberalisation between the Parties as specified in Paragraph 2 of Annex A.
The Consultative Group will consider at each regular session the matters referred to in Annex A unless the Parties mutually determine otherwise, and any matter identified by either Party that may affect trade or economic relations between the Parties, or any matter affecting respective trade and investment interests in third countries, including issues of common interest arising in multilateral and plurilateral fora.
The Consultative Group will maintain under review multilateral and plurilateral trade and economic developments of common interest.
PARAGRAPH 6: CONSULTATIONS
Subject to Paragraph 7, either Party may request in writing consultations with the other Party regarding any matter that it considers may adversely affect its trade or investment interests.
The request will include a brief explanation sufficient to permit a full examination of the matter.
The Consultative Group will convene within 30 days of the date of delivery of a request for consultations, unless both parties mutually consent to another date.
The Consultative Group will make every attempt through cooperation and consultations to arrive at a mutually satisfactory resolution of any matter the subject of consultations under this Paragraph.
PARAGRAPH 7: OTHER AGREEMENTS
The Parties affirm their existing rights and obligations with respect to each other under the Agreement Establishing the World Trade Organization and the 1960 Trade Agreement between Australia and Canada.
Nothing in this Arrangement affects the rights and obligations referred to in Paragraph 7(l).
PARAGRAPH 8: ANNEXES
The Annex to this Arrangement constitutes an integral part of this Arrangement.
PARAGRAPH 9: AMENDMENTS
The Parties may mutually decide upon any modification or addition to this Arrangement.
PARAGRAPH 10: DATE OF EFFECT
This Arrangement will come into effect on the date of its signature.
PARAGRAPH 11: TERMINATION
This Arrangement will remain in effect unless terminated by either Party on six months' notice to the other Party. SIGNED at Canberra on the fifteenth day of November 1995, in duplicate, in the English and French languages, both texts being equally valid.
FOR THE GOVERNMENT OF CANADA
FOR THE GOVERNMENT OF AUSTRALIA
JOINT WORK PROGRAM
Identify options to facilitate business development and business between the Parties in the following areas of priority interest:
entertainment industries (film, multimedia);
environmental technology and services including geosciences related;
information services and equipment;
mining and oilfield equipment and services;
other areas as may be jointly determined from time to time.
Identify options and propose action in the context of bilateral, plurilateral or multilateral activities or fora, for facilitating trade and investment between the two countries, including in the areas of :
market access, for goods and services;
mutual recognition of conformity assessment procedures in selected sectors;
reciprocal recognition of professional qualifications and related issues;
In relation to market access for goods and services, a separate report on options and recommendations to reduce or eliminate barriers to trade will be prepared for consideration at the first meeting of the Consultative Group.
The content of the Joint Work Program will be reviewed annually and revision will be made by mutual consent.