On August 21, 2023, on the sidelines of the ASEAN - Australia - New Zealand Economic Ministers Meeting (AANZFTA) held in Semarang, Indonesia, the Economic Ministers from Brunei Darussalam (ASEAN National Coordinator on AANZFTA) and Indonesia (ASEAN Chairman 2023), together with Australia and New Zealand, signed the Second Protocol to Amend the ASEAN - Australia - New Zealand Free Trade Agreement (referred to as the Second Protocol).

The ASEAN-Australia and New Zealand Commemorative Summit in 2004 launched negotiations on a Free Trade Agreement (FTA).