Free trade agreements have become increasingly common in the global economy, allowing countries to facilitate trade and boost economic growth through mutually beneficial deals. Australia is no exception to this trend, with several free trade agreements in place with various countries.

One example of a free trade agreement that Australia has is with the United States. The Australia-United States Free Trade Agreement (AUSFTA) was signed in 2004 and came into effect in 2005. It is a comprehensive agreement that covers a wide range of areas, including trade in goods and services, investment, intellectual property, and competition policy.

Under the agreement, Australian businesses have greater access to the US market, with tariffs reduced or eliminated on many goods exported from Australia. This has helped to increase exports and support economic growth in Australia. Similarly, US businesses also benefit from reduced barriers to trade with Australia, creating new opportunities for growth and investment.

In addition to improving trade relations, the AUSFTA also includes provisions for protecting and enforcing intellectual property rights. This is particularly important given the growing significance of intellectual property in today`s economy, especially in areas such as technology and innovation.

Overall, the AUSFTA has been a positive development for both countries, strengthening economic ties and creating new opportunities for growth and investment. It is just one example of the many free trade agreements that Australia has in place, highlighting the country`s commitment to promoting sustainable economic development and global trade.