• About Us
  • Home
Monday, May 23, 2022
No Result
View All Result
NEWSLETTER
WiredNewsEngine
  • Home
  • Press Release
  • Entertainment
  • Health
  • Legal
  • Business
  • Featured
  • Current
  • Home
  • Press Release
  • Entertainment
  • Health
  • Legal
  • Business
  • Featured
  • Current
No Result
View All Result
WiredNewsEngine
No Result
View All Result
Home Business

Exporters must lock in returns now from the AANZFTA

by WebMaster
December 4, 2009
in Business, Press Release
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

/EIN Presswire / Exporters must lock in the returns which will flow from the ASEAN Australia New Zealand Free Trade Agreement (AANZFTA) as it comes into force on 1 January 2010.

The AANZFTA will improve the environment in which trade occurs with lower tariffs, improved Customs procedures, smoother Quarantine processes, more transparent rules and regulations and the alignment of standards.

According to Geoff Short, managing director of trade facilitation consultancy, Tanda International Pty Ltd: “While many of the regulatory barriers which bite into profits and hold up timely deliveries will be reduced or removed, it is still up to exporters to lock in their returns from this new trading agreement.

“The FTA does not automatically apply a zero duty rate to all imports. Traders must audit their tariff classifications to check whether any preferential duty rates apply to their goods.

“And, the goods need to comply with rules of origin.

“There is huge potential for exporters to lower the costs of their regional trade and improve supply chain efficiencies but to secure the benefits, action needs to be taken now,” he said.

The importer, or customs broker, must claim the preferential duty rate on each imported shipment and submit the Certificate of Origin to the importing party’s Customs authority at the time of making the import declaration – otherwise, the higher rate will be applied.

Geoff Short noted that it is surprisingly common for importers to fail to claim preferential duty rates under FTAs because they are unaware that they exist, are unfamiliar with the procedures required to meet the rules of origin or make the claim, or are just “too busy”.

“In normal circumstances, that is inefficient. In the current economic circumstances, it is inexcusable,” he said.

Often, the action required will involve a once-off inquiry or investigation, the results of which can be relied upon for all similar subsequent transactions.

“Having assisted multi-national organisations and single product exporters across Asia Pacific to maximise the benefits from the ‘noodle bowl’ of regional and bi-lateral free trade agreements, we know the return on investment of effort is undeniable,” Geoff Short said.

www.tanda.com.au

WebMaster

WebMaster

Next Post

Locked, Rocked and Loaded Set To Invade Music Row With Big Guns Ablaze

Popular News

  • Silencil Reviews – Does It Silence Tinnitus for Real?

    0 shares
    Share 0 Tweet 0
  • Clinitron Bed Management For Flap Patients Is The Standard Of Care

    0 shares
    Share 0 Tweet 0
  • Ceremony CBD Oil Reviews: Trustworthy Hemp CBD Liquid Drops?

    0 shares
    Share 0 Tweet 0
  • Kansas sperm donor asked to pay child support

    0 shares
    Share 0 Tweet 0
  • Anil Ramnarayan Presents 5 Tips For A Successful Nursing Home Survey

    0 shares
    Share 0 Tweet 0

Rehabs Near Me Launches New Rehab Services in the US

February 25, 2021

Ginger-Powered Recoup Beverage: A Founder’s Unlikely Story of Survival and Success

February 13, 2021

What is Unix: The Base of All Operating Systems?

February 2, 2021

Categories

  • Banking
  • Bollywood
  • Brand Partner Content
  • Business
  • Cancer
  • Current
  • Entertainment
  • Featured
  • Finance
  • Health
  • Hollywood
  • Legal
  • Press Release
  • Technology
  • World News
  • Home
  • Press Release
  • Entertainment
  • Health
  • Legal
  • Business
  • Featured
  • Current

No Result
View All Result
  • About Us
  • Home