Trusted Traders: Benefits flow to Australian and Hong Kong traders
2 February 2018 – Australia and Hong Kong will soon implement a Mutual Recognition Arrangement (MRA) that's set to deliver substantial benefits to Australian and Hong Kong businesses.
Australian Trusted Trader businesses exporting to Hong Kong will benefit from a more streamlined customs process that will become fully operational on 1 March 2018.
Australian Consul-General, Michaela Browning, said ”In the year in which we celebrate 70 years of official trade between Australia and Hong Kong, we realise that the job isn't finished and that there are more significant opportunities for strengthening the business and trade relationship between our economies”.
“This arrangement comes at a time when are also delighted to be negotiating a Free Trade Agreement with Hong Kong that will build on our trade relationship and this important work on customs and trade facilitation. A high quality free trade agreement will further enhance trade facilitation, and can also build on the FTA Australia has with China, to deliver substantial benefits”, said Ms Browning.
Australia's Trusted Trader and Hong Kong's Authorized Economic Operator Program will give businesses the opportunity to be part of a worldwide network, which recognises and rewards businesses with compliant trade practices and a secure supply chain.
In 2017 Australian exports to Hong Kong were valued at A$12.9 billion (HK$77.4 billion), and we are confident this arrangement will help boost this trade even further.
Australian Border Force (ABF) consul, Superintendent Dean Hogarth today joined a ceremony with Hong Kong officials to officially announce the implementation of the MRA.
Acting ABF Commissioner, Michael Outram said, “Businesses who have already qualified as Australian Trusted Traders will enjoy specialised border treatment, helping their products reach the increasingly important and profitable Asian market, a process that will be reciprocated for Hong Kong traders who fall under the agreement.”
“The ABF is committed to working with industry to uphold and improve our strong borders, and Trusted Trader is one of the ways we are rewarding those businesses that help us achieve this,” said Acting Commissioner Outram.
The Australia-Hong-Kong MRA was signed in July 2017, and entered a pilot phase, which is now complete.
The arrangement strengthens the relationship between Australian and Hong Kong customs administrations, and fosters increased trade flows.
Australia also shares similar arrangements with other international trading partners such as the People's Republic of China, New Zealand, the Republic of Korea and Canada, and is negotiating more MRAs with other key trading partners.
These MRAs are an important step in expanding Australian Trusted Trader and will provide more streamlined access to global markets for Australian businesses that are trusted.
More information on the Australian Trusted Trader programme is available at www.homeaffairs.gov.au/trustedtrader.
CONSULATE-GENERAL MEDIA CONTACTS:
Mr Gavin McDougall Tel: +852 2585 4418
Ms Simmy Lam Tel: +852 2585 4482