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.
MRAs benefit members of the Australian Trusted Trader program, 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.
By improving Australia’s competitiveness in the international trade market, the country will benefit from greater job opportunities and investment.
The Australian Trusted Trader program is open to all Australian businesses active in the international supply chain.
The program is free to join but businesses must have an Australian Business Number (ABN), two years of trading history and be financially solvent.
For more information about these arrangements visit the Austrade website.