India, European Union, United Kingdom & ASEAN FTA Update
Attention: Shipping Manager
We have been provided with the following update from the FTA (Freight Trade Alliance) in relation to the latest information available regarding the progress of free trade agreements with various countries. Current details are as below:-
Australia-India Economic Cooperation Trade Agreement (AI-ECTA)
The Australia-India Economic Cooperation and trade agreement (ECTA) will come into effect on 29 December 2022.
Year 1 reductions will start 29 December 2022. Year 2 reductions will then start 1 January 2023. Certificates of origin will be required.
Please refer to the below links for more information:
Australia-European Union Free Trade Agreement (A-EUFTA)
Discussions are still ongoing for about 30 chapters of the agreement including technical barriers to trade and intellectual property, including geographical indicators. Negotiations are forecast to be finished by mid-2023, but operative date would be some time after this due to the treaty making process.
Australia-United Kingdom Free Trade Agreement (A-UKFTA)
On 22 November 2022, the A-UKFTA passed the Australian Parliament but we need do not yet have a start date. We are awaiting an update from the UK as to their own progress. Once the domestic procedures have been completed, Australia and the UK will provide each other with confirmation of their completion through an exchange of diplomatic notes, and the agreement will enter into force 30 days later, or on any other date that is mutually agreed.
Please refer to this link for more information: https://www.dfat.gov.au/trade/agreements/not-yet-in-force/aukfta/official-text
ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) Upgrade (“Second Protocol”)
Substantial completion on 13 November 2022. Maintains existing FTA but new rules of origin aimed at expediting the movement of humanitarian aid. New provisions for transport hubs. New self-certification provisions similar to Australia’s recent FTAs. Details are to be advised.