The Pharmaceutical Benefits Scheme (PBS) is a central part of the Australian health care system. The plan provides reimbursement to the community pharmacy for the dispensing of prescription drugs, which are prescribed according to the PBS schedule, a complete but closed formula. Drugs are included in the formula based on an assessment of comparative efficacy and cost-effectiveness compared to the therapy most likely to be replaced in practice. The result is that, if there is no evidence of incremental utility, a drug may not be mentioned at a higher price than the comparator, with the result that for many (but not all, far from it) prices for subsidy purposes are much cheaper than in many other important markets. Chapter 19 raises concerns that a relaxation of environmental legislation would allow the parties to obtain commercial benefits. Latham reacted unexpectedly by subordinating laboratory support to the free trade agreement to an amendment that would protect PBS. [9] This effectively turned the situation around to Howard: if the government rejected the amendment as unnecessary, it opened up to assertions that it does not protect Australian interests; while he supported the amendment, he tacitly acknowledged that the initial terms of the agreement were insufficient. The bill was eventually amended and passed. · The United States and Australia will work to remove health and plant health barriers to agricultural trade, particularly pork, citrus, apples and stone-based fruit.

Requires transparent procedures for registering trademarks, including geographical indications. Publication 3722 of the International Trade Commission: This publication contains the HTSUS General Note 28 and a list of goods that have become duty-free upon entry into force, as well as the exit schedule for goods that, over time, become duty-free. · The two countries also commit to extending the non-discriminatory scope of the agreement to sub-central units and will cooperate with their respective states and territories in the coming weeks to refine the scope of this coverage. While the system is very effective at keeping many drug prices low, pharmaceutical companies in both the U.S. and Australia are cautious about operating the system, saying that higher drug prices are needed to finance research and development costs. U.S. pharmaceutical companies claim that Australians are essentially free of the cost of research in the U.S. in the consumption of low-cost drugs[8] Bilateral trade in goods and services with Australia is about $28 billion and the U.S. has a $9 billion trade surplus with Australia.

Australia is the 9th largest U.S. market for goods exports- The European Union is considered the only export destination. Australia presented trade initiatives or trade agreements with countries or groups of countries in the table below. Free trade agreements provide a mechanism to facilitate trade in goods. Each agreement contains information and links to legislation, guidelines and opinions on rules of origin and access to preferential rates. Chapter 2 of the Free Trade Agreement sets out the conditions of the nature of non-discrimination. Some types of goods are immediately fully applicable to the contract and some are imported over a one-year period or a period of temporary application. Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of market and Australian services. A coalition of unions and other groups opposed the agreement because it would create nafta-like problems. [indicate] The “first-in-time, first-in-Right” principle applies to trademarks and geographical indications, so that the first person acquiring a right to a trademark or