FedEx Signs Agreement to Boost U.S.-Australian Trade

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edEx Corp. said Tuesday that its FedEx Express unit has signed a two-year agreement with the Australian Trade Commission to expand trade between Australia and the United States.

Under the alliance, FedEx said U.S. and Australian businesses will be able to better take advantage of the U.S.-Australia Free Trade Agreement, which took effect in January 2005.

Under that agreement, more than 99% of U.S.-manufactured goods exported to Australia are duty-free. It also made importing products from Australia easier and more cost-effective.

“In 2004, bilateral trade between Australia and the U.S. totaled more than $21 billion," said Geoff Gray, senior trade commissioner for the Australian commission, known as Austrade.

"Initiatives such as this will encourage more Australian companies to export, expand their businesses and contribute to our country's economic growth," he said in a statement.

FedEx is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.