Australia China Free Trade Agreement Tariff Rates

The full text of the agreement, as well as useful information and information sheets from the ACF, are available on the website of the Ministry of Foreign Affairs and Trade. For any specific questions regarding the agreement, e-mail ChinaFTA@dfat.gov.au or DFAT phone on 02 6261 1111. Importers can contact the Ministry of the Interior. ChAFTA will enhance trade and investment between countries by reducing barriers to labour mobility and improving temporary access to temporary access within the existing immigration and employment safeguards of each country. The China-Australia Free Trade Agreement (ChAFTA) is a bilateral free trade agreement between the governments of Australia and China. Since the beginning of the negotiations, 21 rounds of negotiations have been concluded. [1] The agreement was reached on 17 November 2014 and the details were published two days later[2] almost ten years after the first round of negotiations, which began on 23 May 2005,[3] following a joint feasibility study. The free trade agreement was signed on 17 June 2015 between the two countries. [4] Following the usual conclusion of the contract, the agreement came into force on December 20, 2015, after the Chinese government completed its internal legal and legislative procedures and the Joint Treaty Committee of the Australian Parliament and the Senate Committee on Foreign Affairs, Defence and Trade conducted a review. [4] [5] ChAFTA also means that 95% of Chinese products imported into Australia will be duty-free after four years, resulting in significant input savings. This will reduce business costs and increase the competitiveness of Australia`s exports. Australia and China signed the China Australia Free Trade Agreement (ChAFTA) on June 17, 2015, which came into force on December 20, 2015.

Trade negotiations have secured many future benefits to Australia with Australia`s largest trading partner, China. The largest beneficiaries are those working in agriculture, manufacturing, services, investment, resources and energy. China also accepted a special clause recognizing Australia as the “most favoured nation” (MFN). This allows Australian companies to access the same agreements that China has in the area of free trade agreements with other nations (such as the United States) that could provide better access to the Chinese market. The China-Australia Free Trade Agreement (ChAFTA) was signed on June 17, 2015 and came into force on December 20, 2015, when 7,289 Chinese tariffs were reduced or completely abolished. After nearly a decade and 21 rounds of intense negotiations, Australian Prime Minister Tony Abbott and Chinese President Xi Jinping this week launched a sweeping free trade agreement. ChAFTA exports 85% of Australia`s exports to China duty-free after entry into force, with an increase of 93% in four years and 95% if fully implemented. Although many details are not yet complete (official documents will be signed in 2015), the government estimates that the agreement will generate $18 billion in economic benefits (1.1% of GDP) over a decade.

Once the agreement is fully implemented, 95% of Australia`s exports to China will be tariff-free. These include many agricultural products, including beef and dairy products. In addition, market access for the Australian services sector will be liberalised and investment by Chinese companies of less than AUD 1,078 million will not be subject to FIRB approval. In addition, an investor-state dispute settlement mechanism will be put in place as part of the contract. [2] Australia has trade initiatives or trade agreements with the countries or groups of countries listed in the table below. But there is still considerable scope. In the coming years, ChAFTA will create export opportunities by removing import tariffs on a number of Australian agricultural products.