China Australia Free Trade Agreement 2019

The full text of the agreement, as well as useful information and information sheets from the ACF, are available on the website of the Ministry of Foreign Affairs and Trade. For any specific questions regarding the agreement, e-mail or DFAT phone on 02 6261 1111. Importers can contact the Ministry of the Interior. There will be a labour and leave agreement in which Australia will grant up to 5,000 visas to Chinese nationals for work and vacationers. [7] The free trade agreement between the two countries was signed on June 17, 2015 in Canberra, Australia. [4] The agreement will follow the usual contracting process, during which it will enter into force when China completes its domestic legal and legislative procedures and in Australia, the review by the Standing Committee on the Treaties of the Australian Parliament and the Committee on Foreign Affairs, Defence and Trade of the Senate. [4] At ChAFTA, China offered Australia its best service obligations to date in a free trade agreement (with agreements other than China with Hong Kong and Macao). Before entering the Chinese business market, there are a number of factors to consider, including culture, politics and business etiquette. Austrade can help Australian companies become familiar with local market conditions and help develop export opportunities through a number of market and Australian services. The China-Australia Free Trade Agreement (ChAFTA) came into force on December 20, 2015. This first free trade agreement (FTA) gives Australia a considerable advantage in its trade relations with China, now the world`s largest economy. The potential benefits to Queensland will be significant in the key industries of agriculture, agriculture, mining, manufacturing and a wide range of services. The agreement also provides for a Most Favoured Nation (MFN) clause that will protect Australia`s competitive position in the future if China gives favourable treatment to other trading partners in the areas of education, tourism and travel-related services, construction, engineering, securities, environmental services, forestry, computer and related services, as well as certain scientific and consulting services.

In addition, firb continues to control all direct investment, new trade proposals and the acquisition of land shares (including agricultural land) by Chinese state-owned enterprises, regardless of the size of the transaction. The ChAFTA does not change these rules in any way, which is consistent with the government`s practice in other free trade agreements. These enormous two-way opportunities between China and Australia need to be developed collaboratively, given the uncertainties in the global trading environment. The U.S. transition from a largely collaborative approach to China, since President Nixon began relations with China in the 1970s, has quickly and quickly become a more confrontational approach to contain China in one way or another. Moreover, the recent escalation of barriers to free trade is an undeniable attack on the traditional global supply chain, which will not be easy to repair. Faced with domestic and international challenges, China`s economy is rapidly changing structurally.

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