Australia-Us Free Trade Agreement 2004 (Section 153Yc)

The Australia-US Free Trade Agreement of 2004 (AUSFTA) is an agreement aimed at boosting trade between the two countries. This agreement covers a wide range of issues, including intellectual property, investment, and labor. One important section of the AUSFTA is section 153YC, which deals with the issue of transparency in government procurement.

Section 153YC requires both Australia and the US to maintain a transparent and fair procurement process for government contracts. This means that both countries must maintain open and competitive procurement processes that are based on objective criteria. They must also provide interested suppliers with information about the procurement process, including the criteria used to evaluate bids and the deadline for submitting bids.

This section of the AUSFTA is particularly important because it helps to prevent government procurement from being used as a tool for protectionism. By maintaining a transparent and fair procurement process, both countries can ensure that suppliers from each country have an equal opportunity to win government contracts. This, in turn, promotes competition and leads to better value for taxpayers.

Another important aspect of section 153YC is that it requires both countries to provide an effective mechanism for challenging procurement decisions. This means that suppliers who feel that they have been unfairly excluded from a procurement process can seek recourse through an independent review process.

In conclusion, section 153YC of the Australia-US Free Trade Agreement of 2004 helps to maintain a transparent and fair procurement process for government contracts. By doing so, it promotes competition, prevents protectionism and ensures that the taxpayers of both countries get the best value for their money.

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