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The China-Australia Free Trade Agreement (ChAFTA) will benefit Australia’s trade and investment with our largest trading partner, concluding agreements in force at the moment with Korea and Japan.
The commencement of the agreement is not currently official and is expected to be implemented 30 days after Australian and China Governments complete necessary domestic parliamentary requirements. Should both parliaments agree to the terms of the agreement, implementation will be between December 2015 and January 2016.
Currently ChAFTA is undergoing review by the Joint Standing Committee on Overseas Treaties (JSCOT), which will table its report before Parliament on 19th October 2015 for deliberation.
Today though, Prime Minister Tony Abbott will move a motion seeking Parliamentary support to back the ChAFTA “in its negotiated form” enabling it to be passed this year so that benefits can flow on to Australian businesses and workers without delay. The opposition is expected to seek additions to the motion in relation to safeguarding Australian jobs and workplace safety.
More detailed information can be found in the following documents:
Clarke Global will keep you updated on all developments, and in the meantime, if you have any questions in relation to how your export or import business is affected, please feel free to call the team on 9854 3000 or email firstname.lastname@example.org
Established in 1917, Clarke Global Logistics is a reputable Australian Customs Broker and Freight Forwarder; offering a totally integrated trade service both locally and globally.