In accordance with Australia`s other bilateral trade agreements, the remaining Australian tariffs on Chinese imports will be phased out. These include removing 5% tariffs on Chinese exports, electronics and white goods, consumers and businesses benefiting from lower prices and greater availability of Chinese products. “I don`t think we should give it up,” she said. “It`s a whole series of products going to China, and we don`t want to put that at risk, even though, at the moment, many of them are clearly part of China`s trade movements.” ChAFTA also means that 95% of Chinese products imported into Australia will be duty-free after four years, representing a significant savings on inputs. This will reduce business costs and increase the competitiveness of Australia`s exports. The agreement also provides for a Most Favoured Nation (MFN) clause that will protect Australia`s competitive position in the future if China treats other trading partners in education, tourism and travel-related services, construction, engineering, securities, environmental services, forestry, computer and related services in the future. , as well as some scientific and advisory services. Before entering the Chinese business market, there are a number of factors to consider, including culture, politics and business etiquette. Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of market and Australian services. Shadow Trade Minister Madeleine King blames coalition for not establishing deep ties on the ground Trade Minister Simon Birmingham said the government would “continue to provide all possible administrative, diplomatic and political support to ensure that our exporters maintain the kind of market access they should have in China.” ChAFTA will strengthen export momentum and give Australia`s exports an advantage over major competitors from the United States, Canada and the EU.
0 0 anthony anthony2021-04-08 20:48:502021-04-08 20:48:50China Free Trade Agreement Australia