A week-long round of trade talks between Australia and the United States is underway in Hawaii this week and the Australian delegation is expected to push for more concessions from the US before entering into a bilateral agreement.
It has been reported that Australian Prime Minster John Howard would like to see a free trade agreement in place by the end of this year, though trade minister Mark Vaile has indicated that the US's initial offer fell short of expectations.
"That initial offer on market access by the Americans in our view wasn't good enough," remarked Vaile in an ABC report. "But certainly [it] will provide a good basis to move forward between now and the end of the year to achieve a successful outcome and in so doing a balanced agreement in the FTA with the United States."
Australia is hoping for the removal of a wide range of tariffs on goods traded between the two countries, including agricultural products such as meat, sugar and dairy products.
After Japan, the United States is Australia's largest trading partner and represents the country's largest investor.
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