Seabridge Global Logistics News
THERE has been a low up take of Free Trade Agreements (FTAs) by small to medium Australian exporters. FTAs cut tariffs, which are taxes or duties to be paid on traded goods and it is important for Australian exporters to offer FTAs to their clients.
Australia’s FTAs with China, Japan and Korea have opened new and exciting opportunities for Australian exporters across a wide range of sectors.
How each Free Trade Agreement will benefit your business will depend on the type of goods or services that you offer and the terms of the relevant FTA.
Some benefits include:
- Increasing goods exports to a market or commencing exports into a new market
- Accessing new and often larger services markets
- Lower tariffs on exported goods, although this often occurs over time and in a staggered manner
- Removal or relaxation of quotas on certain goods that can be imported
- Access to other Government procurement markets, for example in the United States
- Access to cheaper inputs for Australian business, which can assist in making Australian goods and services more competitive
- Potential investment in Australian business by offshore investors
But the tariff-cutting benefits of FTAs, which result in lower landed costs, do not automatically happen and if you want to get these benefits, there are steps you must actively take.
Seabridge has experienced export specialists and expert customs brokers who are able to guide businesses through FTAs and the benefits available. Contact us today on 1800 727 195 with any queries and learn how we can aid your business.