Free Trade Agreement could cost Australia dear

Published: 1-Aug-2003


The Australian Federal Government's negotiations for a Free Trade Agreement (FTA) with the US have been criticised in a report that states it could double the cost of prescription medicines in Australia. The left-orientated Australia Institute report, Trading in Our Health System, said that drug prices could nearly double for non-concession card holders, and would double for concession card holders if the negotiations were successful. Talks are continuing in Hawaii, after the US indicated it was considering accelerating the negotiations to meet a year-end deadline nominated by President Bush. The Australian government has so far rejected calls for the Pharmaceutical Benefits Scheme to be excluded from the negotiations.

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