The China / Australia Free Trade Agreement (ChAFTA) was signed 17-June-15 with the aim of reducing the cost of trade between the two countries over the next 20 years.
Over 85 per cent of Australia’s goods exports to China (by value in 2013) will enter duty free when ChAFTA enters into force, rising to 93 per cent after four years and 95 per cent when ChAFTA is fully implemented. Some of the key benefits of ChAFTA include:
- Making our goods exports more competitive in the growing Chinese market through reducing or removing tariffs on Australia’s high-quality goods.
- Reducing the costs of importing from China by eliminating tariffs on goods imports from China.
- Making it easier for Australian businesses to operate and expand in the growing Chinese market by securing or improving access for Australian services providers in China.
- Encouraging new investment into Australia to boost our economic growth by liberalising review thresholds on non-sensitive investment proposals from private Chinese companies.
1Logistics is experienced in facilitating the import and export of goods between Australia and China. Our systems are designed to take advantage of ChAFTA as each phase of the agreement comes into effect to ensure all savings are passed directly on to you.
If you like more information on importing or exporting with China or would like a quote on an existing shipment don’t hesitate to contact us using the button below.