Well a FTA has been signed, they sold out the Australian Sugar Industry and it looks like Australia's gonna get similar DMCA laws to the US Not good at all...
Key Points in the Intellectual Property Chapter include:
Stronger protection for copyright owners, including:
Agreement to implement the WIPO Internet Treaties by entry into force of the Free Trade Agreement: these being world intellectual property standards on treatment of digital copyright material
An expeditious process that allows for copyright owners to engage with Internet Service Providers and subscribers to deal with allegedly infringing copyright material on the Internet.
Tighter controls on circumventing technological protection of copyright material together with a mechanism for examining and as necessary introducing public interest exceptions in relation to technological protection measures, along with a transition period to provide the opportunity for public submissions in this area, as well as other measures in relation to circumvention tools
Agreement on standards of copyright protection
An increased term of protection for copyright material
Enhanced intellectual property enforcement, including:
increased criminal and civil protection against the unlawful decoding of encrypted program carrying satellite TV signals - which will assist the Pay TV industry enforce its rights
agreed criminal standards for copyright infringement and on remedies and penalties
Reinforcement of Australia's existing framework for industrial property protection,