Under negotiation: Australia-Gulf Cooperation Council (GCC) Free Trade Agreement - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and Australia have been negotiating a free trade agreement, on and off, since 2007. Trade between the Gulf nations and Australia is valued at $11.9 billion.

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Under negotiation: Australia-Hong Kong Free Trade Agreement - Australia and Hong Kong began negotiating a free trade deal in May 2018. Trade between Hong Kong and Australia is valued at $16.3 billion.

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Under negotiation: Australia-India Comprehensive Economic Cooperation Agreement - Australia is on a quest to make India its best friend and has been negotiating a reduction of tariff barriers since 2011.

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Future negotiations: Australia-United Kingdom Free Trade Agreement - Once Brexit is complete, the UK will embark on setting up its own free trade agreements and one with Australia is set to be negotiated.

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Trans Pacific Partnership - Australia became the sixth country to ratify the Trans-Pacific Partnership on October 31, 2018.

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Massive trading zone - The TPP is between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam and aims at creating one of the biggest free trading zones in the world.

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$171 billion - Trade with the TPP is valued at $171 billion and the deal is set to go into effect on December 30, 2018. Australia, Canada, Japan, Mexico, New Zealand and Singapore have signed onto the agreement already.

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Australia-New Zealand (ANZCERTA or CER) - ANZCERTA was Australia's first ever free trade agreement, signed in 1983.

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All encompassing - ANZCERTA is considered among one of the most all-encompassing free trade deals, with no barriers to trade between the two countries.

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Singapore-Australia (SAFTA) - Australia signed a free trade agreement with Singapore in 2003.

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Australia-United States (AUSFTA) - Australia and the U.S. have had a free trade agreement since 2005.

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Tariffs benefit U.S. - The U.S. is Australia's biggest foreign investor and while there are no tariffs for American imports, there are still some taxes on Aussie exports to the U.S.

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Thailand-Australia (TAFTA) - Thailand and Australia have also had a free trade agreement since 2005.

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94% - Over time, 94% of Thai trade tariffs on Aussie exports have been eliminated.

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Australia-Chile (ACl-FTA) - Australia and Chile formalised a free trade agreement in 2009.

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All tariffs - Since 2015, all tariffs have been eliminated between Chile and Australia, which is valued at $1.5 billion.

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First and largest - ASEAN is Australia's first multi-nation free trade agreement and is still the largest agreement Australia is involved in.

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Malaysia-Australia (MAFTA) - Malaysia and Australia signed a free trade agreement in 2013.

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$19 billion - Trade between Malaysia and Australia is valued at $19 billion and MAFTA adds onto the ASEAN to further reduce tariffs and integrate the economies.

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Korea-Australia (KAFTA) - Korea and Australia signed a free trade agreement in 2014.

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Process - Australia and Korea are still working to further reduce tariffs on both sides.

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Japan-Australia (JAEPA) - Japan and Australia signed a free trade agreement in 2015.

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Most liberal - JAEPA is the most open free trade agreement Japan has ever signed.

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China-Australia (ChAFTA) - China and Australia signed a free trade agreement in 2015.

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Recent tensions - China is Australia's largest export market, though recent tensions involving domestic security concerns have made the relationship uneasy.

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$16.5 billion - Trade between the two countries is valued at $16.5 billion and this agreement would eliminate 99% of tariffs on Aussie exports.

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Peru-Australia Free Trade Agreement - As with Indonesia, Peru and Australia have signed a free trade agreement but are still clearing it in their respective governments before implementation.

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Small but growing - Trade between Australia and Peru is relatively small, $717 million, but Peru has a fast-growing economy and a destination for numerous Aussie mining companies.

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$26 billion - Trade among the PACER group of nations is valued at $26 billion.

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Under negotiation: Australia-European Union Free Trade Agreement - The Aussie-EU free trade agreement negotiations began in June 2018. Trade between Europe and Australia is valued at $101 billion.

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Trans Pacific Partnership - Australia became the sixth country to ratify the Trans-Pacific Partnership on October 31, 2018.

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Australia's free trade agreements

Newest and biggest deal now in play

05/11/18 | StarsInsider

LIFESTYLE Trans pacific partnership

The much talked about Trans-Pacific Partnership, a free trade deal involving 11 countries on the Pacific Ocean, is one step closer to realisation thanks to Australia.

The deal, which the U.S. is no longer a part of, would put 13% of the global economy in one market if all 11 countries agree to the deal.

Australia became the sixth country to sign onto the Trans-Pacific Partnership on October 31, a deal that is meant to come into effect on December 30, 2018.

Here are all of Australia's free trade deals and how they work.