I think the real value in free trade agreements these days is in the framework and the mechanisms for co-operation. Yes, they reduce tariffs, but they also bring partners back together to look at issues through a number of committees that are to be set up.
There's a committee on agriculture. There should be a committee on SPS—sanitary and phytosanitary barriers and measures—and a committee on technical barriers to trade and so forth. Ultimately, all of these committees are to roll up all these issues and bring them back to the highest levels for resolution. It's really important that these operate on a regular basis and that they actually function.
In parallel to these, there should be also industry-to-government committees so that we can keep track of where the issues are at and so there are some transparency and accountability for how issues progress.
There should be also a review of how these free trade agreements deliver on outcomes. I think it's one thing to negotiate free trade agreements. It's another thing to implement them. Having an implementation plan or process to track how they deliver outcomes and whether companies are actually able to benefit from a commercial perspective would be important.