Australia has entered into several new international arrangements which will improve the nation’s competitiveness and ability to trade globally.
Mutual Recognition Arrangements (MRAs) have been signed with Korea’s Customs Service, Canada’s Border Services Agency and the Customs and Excise Department of Hong Kong.
Australian Border Force Acting Commissioner Michael Outram sealed the new arrangements at the recent World Customs Organization council meeting in Brussels.
The Minister for Immigration and Border Protection Peter Dutton said the arrangements are an important step forward in strengthening Australia’s trade facilitation.
“Arrangements such as these reduce the regulatory burden for Australian exporters and make trade with Australia more appealing for international businesses, while continuing to ensure the integrity and security of our border,” Mr Dutton said.
MRAs benefit members of the Australian Trusted Trader programme, a significant international trade reform, by recognising businesses with a secure supply chain and compliant trade practices.
These MRAs will allow Trusted Traders in Hong Kong, Korea and Canada to have more control over timeframes for moving goods across their international supply chain.
“MRAs will help facilitate legitimate trade by rewarding accredited businesses and in turn provide significant benefits to our broader economy,” Mr Dutton said.
The MRAs further demonstrate Australia’s commitment to improving two-way trade and investment flows with our international counterparts.
By improving Australia’s competitiveness in the international trade market, the country will benefit from greater job opportunities and investment in our nation.