How Do I Know if I Benefit From FTAs?
A NEW ONLINE Portal provides Australian exporters and importers with a simple tool to explore how Australia’s Free Trade Agreements (FTAs) with China, Japan and South Korea can benefit their business.
The portal is easy to use and understand, and provides a comprehensive tariff finder for a full range of products - searchable by product keyword or Harmonised System Code. For each tariff line, there is tailored guidance on assessing whether or not the product may be eligible to access the preferential rate according to the Rules of Origin of the relevant agreement, and how to certify this.
The information includes both a text description of the tariff schedule, and a graph showing:
- The base rate - which is the tariff rate prior to the FTA;
- The tariff phasing resulting from the agreement (i.e. the tariff rate reductions over time);
- The year the tariff is eliminated, where applicable; and
- The timing of any tariff reductions.
If the product you search is subject to a tariff rate quota or an agricultural safeguard, these would be displayed following the tariff chart.
Finally, the Portal provides a useful import market snapshot for your searched product in the target destination. This includes the size of the market, market share and trends.
The portal is available by clicking here.
If you have any further questions on how to benefit from the FTAs please give one of our freight experts a call on 1300 883 243
Ian Smith, CEO of CargoHound