January Newsletter

Chinese New Year Holiday┬áJan 24th – 30th

The Chinese New Year Holiday is approaching, with celebrations being held from Jan 24th-30th. Whilst the holiday officially begins on Jan 24th, we expect operations will be winding down at the end of this week, as people begin to head home for the week long holiday. If you have plans to move cargo before the holiday, please let us know now so we can start the booking process.

Australia-Hong Kong Free Trade Agreement

The Australia-Hong Kong Free Trade Agreement (A-HKFTA) will enter into force on 17 January 2020. Whilst Hong Kong does not impose tariffs on Australian products, it has a legal right under the World Trade Organisation (WTO) to introduce tariffs on a range of products (including gold) which is the largest export from Australia, valued at $7 billion in 2018. The A-HKFTA provides certainty for Australian exporters that Hong Kong will continue to provide duty free entry. To be able to claim preferential rates under A-HKTA, goods must be entered on or after January 17th 2020. A Declaration of Origin will be the bases for a claim of preferential treatment. We will advise of further developments, as they become available. However, in the meantime, for further information, please see below website link. https://www.abf.gov.au/free-trade-agreements/Pages/hong-kong.aspx

Changes to NICNAS from July 1st 2020

There is now a new Australian Industrial Chemicals Law – Industrial Chemicals Act 2019. This law creates a new regulatory scheme for the importation and manufacture of industrial chemicals in Australia (to replace NICNAS). If you do have a registration with NICNAS, please ensure you are aware of the new regulatory scheme. For further information, please see the following website link- https://www.nicnas.gov.au/New-scheme-1-July-2020