Streamlined trade is now a step closer between Australia and New Zealand businesses.
Strengthening trans-Tasman trade
Streamlined trade is now a step closer between Australia and New Zealand businesses. We have now formally agreed with the New Zealand Customs Service to work towards the implementation of a Mutual Recognition Arrangement (MRA) during Australian Trusted Trader’s pilot phase.
The Comptroller-General of Customs, Mr Roman Quaedvlieg APM and Comptroller of New Zealand Customs Service, Ms Carolyn Tremain, signed a Statement of Intent in Canberra on Thursday, 5 November 2015 which formally initiates the negotiation process. We will sign the MRA with New Zealand Customs in June 2016 before its implementation from July 2016.
The Mutual Recognition Arrangement will deliver a mutually beneficial outcome that increases both nations’ contributions to international supply chain security and trade facilitation. It is anticipated that the Mutual Recognition Arrangement will allow up to 13 per cent of New Zealand import volume to Australia totalling $3.0 billion to be facilitated, along with $7.5 billion of Australian exports by 2020.
This combined $10.5 billion of trans-Tasman trade facilitated and secured through the Mutual Recognition Arrangement demonstrates a significant return on investment that will increase the international competitiveness of industries in both countries.
The ATT’s pilot phase is progressing well, with the number of pilot partners growing from the initial four companies to twelve across the country.
The new pilot partners are Apple, Fletcher International Exports, Hewitt-Packard, IKEA, IBM, Matrix Composites, Pacific Brands and Target.
These companies join existing partners, Boeing Aerostructures Australia, Devondale Murray Goulburn, Mondelez Australia and Techwool Trading.
To find out more visit Australian Trusted Trader.