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Australia hopes to finalise US free trade deal next week
(Agencies)
Updated: 2004-11-14 11:25

A free trade agreement between the United States and Australia should be completed by next week, Trade Minister Mark Vaile says.


A free trade agreement between the United States and Australia should be completed by next week, Trade Minister Mark Vaile (L) says, seen here signing the pact with US Trade Representative Robert Zoellick. [AFP/file]

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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