The Australian Border Force (ABF) has issued Australian Customs Notice (ACN) No. 2021/15 titled, Customs duty rate changes for 1 April 2021: Japan-Australia Economic Partnership Agreement.
The final reduction of customs duty rates provided for under the Japan-Australia Economic Partnership Agreement occurs as scheduled today, 01April2021.
This reduction will apply to certain imports of:
·textiles
·clothing
·footwear
·orthopaedic footwear
From 01 April 2021 all Japanese originating goods, except for those subject to excise-equivalent customs duty rates, will have a duty rate of ‘Free’ applied.
Those interested can find a list of the changed items HERE however, since they are listed by tariff item without description of goods, we suggest that you contact us here at Colless Young and talk with one of our licensed brokers.
Japan was Australia’s second-largest trading partner and second-largest export market, and third-largest source of foreign direct investment at the end of 2019. Total bilateral trade in services in 2018-19 was valued at $7.1 billion, mostly in the recreational travel, transport and education sectors. Services exports were worth $2.6 billion and services imports were valued at $4.5 billion.
The Japan-Australia Economic Partnership Agreement (JAEPA), which entered into force on 15 January 2015, gives Australian exporters significantly improved market access in goods and services and substantially improves investment protections. JAEPA has supported the rise in our two-way trade of some 31% since the agreement started. Both Australia and Japan are key members negotiating the Regional Comprehensive Economic Partnership (RCEP).
|
Australia imports from Japan |
Value |
Year |
|
Vehicles other than railway, tramway |
$7.18B |
2019 |
|
Mineral fuels, oils, distillation products |
$3.17B |
2019 |
|
Machinery, nuclear reactors, boilers |
$1.75B |
2019 |
|
Rubbers |
$632.47M |
2019 |
|
Pearls, precious stones, metals, coins |
$548.35M |
2019 |
|
Electrical, electronic equipment |
$504.03M |
2019 |
|
Optical, photo, technical, medical apparatus |
$334.82M |
2019 |
|
Articles of iron or steel |
$187.13M |
2019 |
|
Salt, sulphur, earth, stone, plaster, lime and cement |
$105.27M |
2019 |
|
Miscellaneous chemical products |
$85.81M |
2019 |
As a licensed Customs Broker and International Freight Forwarder, Colless Young offers correct, professional advice on all your import and export requirements. Based in Brisbane, we provide a complete range of logistics services, both air and sea freight, through all Australian ports and airports. We handle customs clearance, shipping, trucking, warehousing and fumigation.
