On day one of the ChAFTA, more than 85 per cent of Australian goods exports will be tariff free, rising to 95 per cent on full implementation.
One of the highlights of the FTA is that China shall operate the Country Specific Tariff Quota (CSTQ) in a transparent manner and, on request of Australia, provide information on the quantity of the CSTQ issued. Unless otherwise agreed, the rules applying to the administration of the CSTQ for the products of Australian origin will be consistent with the Detailed Rules for Implementation of Administration on Import Tariff Quotas of Wool and Wool Tops in 2015 or any successor rules in force in any given calendar year.
The FTA was signed by Australian trade and investment minister Andrew Robb and his counterpart, Chinese commerce minister Gao Hucheng.
“This agreement will give our nations unprecedented access to each other's markets. It removes barriers to Australian agricultural exports across a range of products, including beef, dairy, lamb, wine, horticulture and seafood. It means duty free entry for 99.9 per cent of our resources, energy and manufacturing exports within four years,” Australian prime minister Tony Abbott said after the signing ceremony.
But Australian trade unions do not quite share the prime minister’s optimism. Unions are deeply concerned the FTA will undermine local jobs and increase unemployment. The Abbott Government has been deliberately vague on the details about labour mobility and labour market testing clauses within the agreement, they say.
“The Abbott Government needs to come clean on the impact the China Free Trade Agreement will have on unemployment and local jobs. Free trade agreements must support local jobs and industry and all indications are that the deal with China does not. There must be strong rules around labour market testing and labour mobility clauses in the China free trade deal to ensure local jobs are protected,” said ACTU President Ged Kearney.
The agreement will enter into force after the completion of domestic legal and parliamentary processes in China and Australia, including review by the Australian Parliament’s Joint Standing Committee on Treaties, and the Senate Foreign Affairs, Defence and Trade References Committee. Both countries are working to complete these steps and bring the agreement into force as soon as possible. (SH)
Fibre2fashion News Desk – India
Textiles | On 22nd Oct 2016
The Central government is likely to extend the recently approved Rs...
Apparel/Garments | On 22nd Oct 2016
Reebok, a pioneer in the sporting goods industry, has brought sneaker ...
'Hugo Boss works with carefully selected sourcing partners'
‘There is huge demand in the Indian lingerie market for non-wired styles.’
‘RT3 motto is: Do not check millimetres, check colours.’
Steve Cole of Xerium Technologies discusses the industry. Xerium is the...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Textiles | On 22nd Oct 2016