Assistant Minister for Home Affairs Senator Linda Reynolds has welcomed 12 newly accredited Australian Trusted Traders (ATT) into the program, including Kmart, Microsoft and Pandora.
Speaking at the Department of Home Affairs annual Industry Summit in Sydney yesterday, Assistant Minister Reynolds said she was excited to see the ATT program growing at such a fast pace, with these new Trusted Traders joining the likes of Apple, IKEA, and Louis Vuitton.
"The number of businesses applying for the ATT program has doubled in the last twelve months, with Trusted Traders representing more than $54.5 billion of two-way trade," Assistant Minister Reynolds said.
"We now have 244 accredited Trusted Traders and 129 businesses undergoing assessment in the validation process.
"Working in partnership with Trusted Traders allows the Australian Border Force (ABF) to develop a better understanding of how secure and compliant businesses undertake international trade.
"This means the ABF can focus their efforts on targeting high-risk, unknown or illegitimate traders, helping to keep Australia safe."
Key trade facilitation benefits of the ATT program include access to an ABF Account Manager and priority treatment at the border.
Trusted Traders also have access to seven Mutual Recognition Arrangements (MRAs), streamlining the clearance of goods at the border with Canada, the People's Republic of China, Hong Kong, Taiwan, the Republic of Korea, New Zealand, and Singapore.
"These MRA arrangements provide Trusted Traders with unprecedented access to trade facilitation benefits, increasing their access to global markets," said Assistant Minister Reynolds.
"MRAs are estimated to contribute $2.8 billion to industry, with negotiations underway for future MRAs with the United States, Japan and Thailand."