New free trade agreements (FTAs) with China, Japan and Korea, along with Australia's many existing FTAs, present fantastic opportunities for importers and exporters of goods and services. However, the complexity and compliance risks often discourage many traders from taking full advantage of these FTAs. We can help overcome these challenges.
The title, "free trade agreement" suggests that all trade between two countries will be duty free. However, FTAs do not apply to all goods equally and do not apply automatically. The rules regarding the use of FTAs are complex and the associated legal documents are often hundreds of pages long. It is this complexity that has traditionally deterred Australian traders and resulted in very low levels of utilisation of FTAs.
We can help traders to overcome the challenging aspects of FTAs with advice including:
- Modelling the benefits of FTAs;
- Origin advice - obtaining rulings as to whether goods qualify for preferential treatment under an FTA;
- Adopting strategies to increase FTA compliance and utilisation, such as origin policies for local manufacturers and reviewing the claiming of preference on past imports;
- Drafting declarations of origin;
- Amending international supply or purchase contracts to incorporate terms required for your protection when utilising an FTA; and
- Educational training to clients on FTAs.
Our team is well positioned to provide you with the most up to date information on Australia's trade policy, through our strategic alliance with representative groups such as the Export Council of Australia (ECA) and the Freight & Trade Alliance, as well as participation in the National Trade Facilitation Committee and the Law Counsel's Customs and International Trade Committee.
FTAS MADE SIMPLE
Hunt & Hunt has also helped the ECA to develop the "FTA Tool", a website for Australian exporters that simplifies the use of the ten FTAs signed between Australia and other nations.
The new FTA Tool (www.ftatool.com.au) is designed to help Australian exporters navigate the basics of Australia's FTAs quickly and easily, increasing utilisation of FTAs.
Other popular links
Customs compliance | Customs and Transfer Pricing | Australian Trusted Trader Program | Anti Dumping and countervailing duty | Export trade compliance | Customs and Global Trade UPDATES