CPTPP Enters into Force for Brunei
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will enter into force for Brunei Darussalam on 12 July 2023. The Minister for Home Affairs has to announce when the Agreement enters into force for each country and this occurred on 01 June 2023. The Australian Border Force (ABF) has now issued Australian Customs Notice No. 2023/24 “Customs (Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Entry into Force for Brunei Darussalam) Notice 2023.”
The CPTPP entered into force for Australia, Canada, Japan, New Zealand, Mexico and Singapore on 30 December 2018, Vietnam on 14 January 2019, Peru on 19 September 2021, Malaysia on 29 November 2022 and Chile on 21 February 2023.
The ABF says the following Preference Origin Country code should be used from 12 July 2023: Code – BN; Description – Brunei Darussalam.
Update on Trade with the EU
The Minister for Trade and Tourism, Don Farrell, has issued a statement online regarding his trip to Europe, which says, in part:
This week I will travel to Belgium to engage in negotiations on a trade agreement with the European Union, and then onto France to advocate for Australia’s interests in the rules-based multilateral trading system.
In Brussels I will […] progress negotiations for a trade agreement with the European Union. A trade agreement with the EU that strengthens our trade relationship and supports economic growth, investment, and Australian jobs is a top priority for the Australian Government.
In France, I will lead Australia’s delegation attending the annual OECD Ministerial Council Meeting (MCM), accompanied by the Assistant Minister for Trade, Senator the Hon Tim Ayres. […] While in France, Senator Ayres and I will also host Australia’s annual informal gathering of key World Trade Organization Ministers to shape expectations for a successful 13th WTO Ministerial Conference in February 2024.
The Minister for the Department of Agriculture, Fisheries and Forestry (DAFF), Murray Watt, has said, meanwhile, in an interview with News Corp newspapers, that Australia ‘has put a reasonable offer on the table’ and is not going to complete a free trade agreement with the EU ‘just for the sake of it.’
Mr Watt said that agriculture is a sticking point and the federal government wants guarantees of good returns for Australian farmers. Senator Watt described the EU market as heavily protected – one that is very much subsidised, in contrast to our own highly efficient, non-subsidised sector. We also have issues with the EU’s push for geographical indicators that prevent local producers using names such as prosecco or feta to label products.
Some European countries are struggling with depressed produce prices as a result of the Ukraine war and this is making the EU less inclined to sign an FTA with Australia.
Joint Declaration Against Trade-Related Economic Coercion and Non-Market Policies and Practices
The Department of Foreign Affairs and Trade (DFAT) has issued a media release on trade related Coercion. Together with the governments of Canada, Japan, New Zealand, the UK and USA, they have endorsed a Joint Declaration Against Trade-Related Economic Coercion and Non-Market Policies and Practices at a Ministerial meeting in Paris on 8 June 2023.
The Joint Declaration builds on the momentum of the G7 Leaders’ Statement on Economic Resilience and Economic Security, that took place back in May. The Governments released a Joint Declaration on 09 June 2023:
The seven points of the declaration may be read online at this LINK.
Talk to us at Colless Young about all your trade and shipping needs, whether with Europe or elsewhere around the world. As a licensed Customs Broker and International Freight Forwarder, we provide a complete range of import and export logistics services, both air and sea cargo, including warehousing and trucking, at all major Australian ports and airports.
