The Mutual Recognition Arrangement (MRA) between Australia and Japan signed in June has now been implemented.
Implementation of the MRA means that accredited Australian Trusted Traders now have faster access to the Japanese market, through streamlined border processing.
This MRA is worth $121 million to the Australian economy over the next 10 years.
MRAs reduce non-tariff barriers to trade, provide greater predictability and faster access to market for accredited Australian Trusted Traders in markets where we have signed an arrangement. This increases the competitiveness of Australian Trusted Traders in export markets.
Australia has Authorized Economic Operator MRAs in place with Canada, the People’s Republic of China, Hong Kong, Japan, Republic of Korea, New Zealand, Singapore and Taiwan, which are estimated to be worth $2.8 billion to the Australian economy over ten years.
Assistant Minister for Customs, Community Safety and Multicultural Affairs Jason Wood said the implementation of the MRA is a great opportunity for accredited Australian Trusted Traders.
“I am pleased that this MRA has now been implemented, we will be further strengthening our cooperation at the border and improving trade facilitation and national security,” Assistant Minister Wood said.
“The arrangement provides Australian and Japanese accredited traders with increased reliability and predictability, thereby increasing market access.”
“It will reduce border friction for two-way trade and benefit businesses that import, export or provide services that support traders in the international supply chain,” he said.
For more information on Australian Trusted Trader or MRAs, visit the Department of Home Affairs’ website: www.homeaffairs.gov.au/trustedtrader