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Australia hopes to finalise US free trade deal next week
A free trade agreement between the United States and Australia should be completed by next week, Trade Minister Mark Vaile says.
The deal has been delayed by Washington's misgivings over last-minute Australian amendments designed to protect access to cheap generic medicines but Vaile said a resolution was days away. Vaile said any obstacles to a formal exchange of letters between Australia and the United States would be cleared by the time he meets his US counterpart Bob Zoellick at the Asia-Pacific Economic Cooperation (APEC) meeting in Chile next week. "I'm hopeful we'll be having a celebratory lunch," Vaile told reporters. The trade deal is due to come into operation from January 1, but the exchange of letters -- which confirms both countries have put in place the necessary laws to conform with the deal -- has been delayed for several weeks. Vaile will also hold trade talks with officials from other countries during APEC. He has a meeting with Chinese officials to discuss the progress of the scoping study into a proposed Australia-Sino free trade agreement and will meet with Malaysian representatives to discuss another deal. Vaile said possible bi-lateral trade pacts would also be discussed with Mexico and the United Arab Emitates. |
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