| NewsFlash | ||
| Free Trade Agreement Signed with Chile | ||
| After a 9 month negotiation process, on 30 July 2008 the Chilean Foreign Minister, Alejandro Foxley and Australia’s Minister for Foreign Affairs, Stephen Smith have signed a new bilateral Free Trade Agreement expected to enter into force in both countries on 1 January 2009 (subject to each countries domestic ratification process). | ||
| Of particular interest to importers and exporters, the Agreement will see the removal of tariffs on all existing merchandise trade by 2015, with 92% of tariff lines (accounting for 97% of trade in both directions) reduced to zero on the Agreement’s entry into force. | ||
| Provisions relating to the determination of origin and for claiming preferential rates of duty are of particular importance to affected importers and exporters. Notably, the new provisions remain largely consistent with those currently in force under Australia’s most recently negotiated Free Trade Agreements, in particular those with the USA and Thailand. | ||
The full text of the Agreement and relevant supporting information is currently available form the Department of Foreign Affairs and Trade at http://www.dfat.gov.au/geo/chile/fta/index.html |
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Further information in relation to the Agreement and its potential impact on your business can also be obtained by phoning our Customs Compliance Manager, Clint Latta on 02 9666 6999. |
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| If you require any further clarification, please do not hesitate to contact us at anytime. | ||
| This
newsletter is not intended to, and does not, cover all aspects of
the topics discussed. Professional advice should be sought before any action on these topics is taken. |
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