violin amazon

Australia Free Trade Agreement With China Advantages

Sep 12th, 2021

Apart from this, Australia and China also signed a Memorandum of Understanding this week to set up official renminbi clearing (RMB) agreements in Australia. This will make it easier for Australian exporters to carry out RMB`s cross-border transactions, with the potential to reduce the cost of these transactions by 2-3% by reducing the need for hedging against forex risks. These measures are an additional asset to Australia`s export competitiveness. For this purpose, Australian beef exports to China are currently taxed at almost 19%, while comparable exports from New Zealand enter the Chinese market almost duty-free. ChAFTA will thwart this advantage in the coming years and offer Australia the same conditions as those offered to any other country that signs a free trade agreement with China in the future. The benefits for Australians who export goods to China are significant and range from the removal or reduction of tariffs, larger quotas for certain limited items, and optimized customs procedures.

Entry Filed under: Uncategorised


Calendar

Sep 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  

Most Recent Posts