As
you may be well aware , there are several “Free Trade
Agreements” that are being or have been worked on by the
Department of Foreign Affairs and Trade (DFAT) in recent
times. Please see the below summary of these agreements
as shared by one of our industry bodies the
IFCBAA.
Australia-India Economic Cooperation and Trade
Agreement (ECTA)
Thank you to those members who provided
examples of situations where clients have not been able to
obtain valid Certificates of Origin from Indian Issuing
Authorities (NNF 2023/014). This information was provided to
Australian Border Force and DFAT for review and
assistance.
DFAT has confirmed that Indian originating
goods imported into Australia on or after 29 December 2022 are
eligible to claim preference under ECTA subject to meeting the
Rules of Origin:
- The goods must be Indian originating goods.
- The importer must make a claim for preferential treatment.
- The importer who is claiming preferential treatment must satisfy the
documentary requirements to support the claim (Hold a
valid Certificate of Origin)
- The goods must meet the consignment provision.
It must be noted that shipments that
departed India before 29 December 2022 can still be eligible
for preference if the Rules of Origin are met, however,
members have reported difficulty in obtaining retrospective
COO’s resulting in instances where preference cannot be
claimed for Indian originating goods.
The good
news is that clarification on this matter has been
communicated to the Indian Issuing Authorities, meaning
retrospective COO’s should start to be issued more
consistently. Where an importer pays customs duty on Indian
originating goods, has a valid COO for the goods, or a copy of one
was not available at the time the goods were imported, the
importer may claim a refund of the customs duty paid on those goods
using ICS refund reason code 23A10A.
Australia –
India Comprehensive Economic Cooperation Agreement (AI –
CECA)
Building on the AI-ECTA, the Australian and Indian
governments are negotiating the more comprehensive and
complete FTA, the Australia – India Comprehensive Economic
Cooperation Agreement (AI – CECA).
Australia-United
Kingdom Free Trade Agreement (A-UKFTA)
Australian
implementation and legislation in place but the UK Government
is still in the process of enacting enabling legislation for
the Australia-United Kingdom Free Trade Agreement (A-UKFTA).
It is envisaged to enter into force mid-2023.
Australia-European Union Free Trade Agreement (A –
EUFTA)
Negotiations are continuing in Canberra this week. There is no
current anticipated commencement date as there are several
outstanding issues.
Update to the ASEAN –
Australia - New Zealand Free Trade Agreement
(AANZFTA)
Negotiations of an “update” to the AANZFTA have
been completed but are yet to be made public as the final draft is
undertaking legal vetting. We will bring details of the update
as soon as it is made available and then provide details of
its commencement.
Further, DFAT has been
undertaking ongoing negotiations on some of the more technical
aspects of the FTAs including adoption by all parties of the 2022
version of the Harmonised Code.
