EXPORTING to Hong Kong will soon get easier for Australian Trusted Traders after the signing of a Mutual Recognition Arrangement (MRA), due to come into full effect on 1 March.
Acting Australian Border Force Commissioner Michael Outram said businesses already qualified as Australian Trusted Traders would enjoy specialised border treatment, helping their products reach the Asian market – a process that is to be reciprocated for Hong Kong traders that fall under the agreement.
“In 2017 Australian exports to Hong Kong were valued at $12.9bn, and we are confident this arrangement will help boost this trade even further,” he said.
“This arrangement strengthens the relationship between Australian and Hong Kong customs administrations, and fosters increased trade flows.”
The Australia-Hong Kong MRA was signed in July 2017, and entered a pilot phase, which is now complete.
Australia also shares similar arrangements with other international trading partners such as China, New Zealand, North Korea and Canada, and is negotiating more MRAs with other key trading partners.