Prime
Minister Abbott and President Xi announced the conclusion of negotiations for
the China-Australia Free Trade Agreement (ChAFTA) on 17 November 2014. The
agreement will unlock substantial new opportunities and benefits for Australians.
Australian companies will have significantly improved access to
China’s market. Here are the key areas and industries that will benefit from
the Free Trade Agreement:
Agricultural:
l Elimination of tariffs on beef, sheep meats imports within 9 years
and 8 years respectively
l Elimination of tariffs on dairy products
l Elimination of tariffs on wine within 4
years
Resources,
Energy and Manufacturing
l Elimination of tariffs on all resources and energy products
l Elimination of tariffs on vitamins, health
products and pharmaceutical products
l Elimination of tariff on beauty and hair
products within four years.
Trade in
services
l Australian law firms will be allowed to
link up with Chinese law firms in the Shanghai Free Trade Zone (SFTZ).
l China will list 77 Australian private higher education institutions
registered on the Commonwealth Register of Institutions and Courses for
Overseas Students (CRICOS)
l Australian companies will be allowed to invest in specified
value-added telecommunications services in the SFTZ. These commitments provide
greater certainty for Australian telecommunications investments in the SFTZ.
l Australian service providers will be allowed to construct, renovate
and operate whole Australian-owned hotels and restaurants in China
l China will permit Australian medical service suppliers to establish
wholly Australian-owned hospitals and profit-making aged care institutions in
China.
Is your
business well positioned before you tap into
the China consumer market and benefit from the Free Trade Agreement? Are you
considering setting up a China entity
(Wholly Owned Foreign Enterprise) to facilitate the investment and trading
activities between Australia and China?
===================================================================
No comments:
Post a Comment