ASEAN, Australia and New Zealand signed the Agreement Establishing the ASEAN –Australia – New Zealand Free Trade Area on February 2nd, 2009, which came into effect from January 1st, 2010. Such agreement is quite comprehensive, containing detailed commitments on goods, services (also including financial and telecommunications services), investment, electronic commerce, movement of natural persons, intellectual property, competition policy and economic co-operation. The AANZFTA agreement began negotiations for upgrading in 2020 and will be completed in November 2022. To date, seven member countries have ratified the Protocol to upgrade the Agreement, including Australia, Brunei Darussalam, Indonesia, Malaysia, New Zealand, the Philippines and Singapore.