As mentioned in today’s Australian Border Force (ABF) Compliance Update:-
“Over the next 12 months, the economic benefits of the ABF voluntary Australian Trusted Trader (ATT) programme are likely to expand enormously as Mutual Recognition Arrangements (MRA) with China, Singapore, Hong Kong, Korea, Canada and Thailand progress. MRAs are a significant benefit for Trusted Traders that result in a reduction in regulatory burden, allow Trusted Traders faster clearance when exporting overseas, and enable Trusted Traders to access trade-facilitation benefits in Australia’s key trading partner countries.
The Department signed its first MRA with the New Zealand Customs Service in July 2016. This MRA will deliver a mutually beneficial outcome that increases both countries’ contributions to international supply chain security and trade facilitation. It is anticipated that by 2020 the MRA will facilitate up to $3 billion of New Zealand imports to Australia and $7.5 billion of Australian exports to New Zealand.
This combined $10.5 billion of trans-Tasman trade demonstrates a significant return on investment and will increase the international competitiveness of industries in both countries. MRAs are made possible through the ATT partnership between government and business. ATT seeks to foster legitimate trade in and out of Australia for businesses whose supply chain security and trade compliance practices meet the required standards through a rigorous accreditation process.
The programme is free to join and applications are open to all Australian businesses that are active in international supply chains, have an Australian Business Number, two years of trading history, are financially solvent and are able to meet other relevant requirements.
Once accredited, businesses are rewarded with a range of trade-facilitation benefits, including a dedicated Account Manager who is the single point of contact between the Trusted Trader and the ABF; a lighter touch at the border due to their trusted status; and use of the ATT logo, which is recognised by other customs administrations that a business’s supply chain security meets the highest standards.
Trusted Traders also have the opportunity to work with the Australian Government to co-design and test new trade facilitation initiatives, and have a ‘seat at the table’ to influence the future policy direction of ATT.
There are now five accredited Trusted Traders. These are Teys Australia Beenleigh Pty Ltd, Target Australia Pty. Ltd., Techwool Trading Pty. Ltd., Pacific Brands Holdings Pty Ltd and IBM Australia Ltd. A series of video case studies on accredited Trusted Traders, highlighting the positive impacts of ATT on Australian businesses, are available on our ATT webpages.
Since ATT opened on 1 July 2016, more than 380 businesses have submitted an expression of interest to join. Interested businesses are encouraged to apply through our website to secure their place in the queue.”
For any companies considering Trusted Trader, we recommend an initial meeting with one of our experienced team members to explore and quantify the risk-benefits of attaining Trusted Trader accreditation status.
CEO – Trusted Trader International