ChAFTA Still Largely Underutilised by Australian Exporters
Despite the success of the China-Australia Free Trade Agreement, many Australian farm groups remain locked out of key Chinese markets due to non-trade, non-tariff barriers, with KPMG research finding that Australian businesses are missing out on up to AUD $14 billion in yearly trade revenue.
The barriers, which affect exports of avocados, most stone fruits, carrots, eggs and chilled beef, are predominantly to do with the slow nature of change within the Chinese regulatory landscape and the lack of an import protocol between Australia and China for many food products, allowing other countries better access to the market than Australia.
The report, Access Asia – Leveraging free trade agreements for Australian trade growth, delves into why FTAs can be challenging for Australian organisations and provides solutions on how to navigate the complex local legal environment.
Click here to access KPMG's report.
