Abstract
This chapter investigates how Free Trade Agreements (FTAs) can assist the small and medium-sized enterprise sector (SME) to benefit from reduced tariffs and opening overseas markets. It identifies the importance of SMEs when negotiating the proposed European Union Australian Free Trade Agreement (EU-Australian FTA) which commenced in 1995 when the EU and Australia agreed on a political framework to establish an FTA. This chapter argues how promoting SME trade emanating from Australia into the EU can strengthen economic ties with the EU and benefit Australian SMEs and that, just as the single EU market has benefitted SME’s across member states, Australian SMEs can benefit significantly through an EU-Australian free trade agreement that encourages and stimulates bilateral SME trade.
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Notes
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Mayer and Ottaviano (2007).
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European Commission, COM (2010) 612 final, p. 4.
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European Commission, COM (2010) 612 final, p. 2.
- 34.
For trade purposes the European Union includes all member states and those other countries the make up the European Economic Area (EEA) and the European Free Trade Association (EFTA) (Iceland, Liechtenstein and Norway). Switzerland is not a member of the EEA but is a member of the EFTA and has established bilateral agreements with the European Union to ensure there is effective and efficient trade.
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The European Commission defines SMEs as: “The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro.” See Commission Recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises, OJ 2003 L 124/36.
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See https://www.mfat.govt.nz/assets/_securedfiles/FTAs-agreements-in-force/China-FTA/NZ-ChinaFTA-Agreement-text.pdf (last accessed 1 March 2017).
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See https://www.mfat.govt.nz/assets/_securedfiles/FTAs-agreements-in-force/China-FTA/NZ-ChinaFTA-Agreement-text.pdf (last accessed 1 March 2017).
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The G20 Agenda for Growth: Opportunities for SMEs, Conference, 20 June 2014, p. 10.
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See https://www.mfat.govt.nz/assets/_securedfiles/FTAs-agreements-in-force/China-FTA/NZ-ChinaFTA-Agreement-text.pdf (last accessed 1 March 2017).
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Trakman, L., Walters, R., Zeller, B. (2017). The Proposed European and Australian Free Trade Agreement: And the Importance for Small and Medium-Sized Enterprises. In: Bungenberg, M., Krajewski, M., Tams, C., Terhechte, J., Ziegler, A. (eds) European Yearbook of International Economic Law 2017. European Yearbook of International Economic Law, vol 8. Springer, Cham. https://doi.org/10.1007/978-3-319-58832-2_17
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