ChAFTA - Opening new opportunities for Australian products in China
Highly advanced, Australian researched and designed medical devices such as hearing aids and implantable medical devices will benefit from ChAFTA.
The 4% tariff on hearing aids and implantable medical devices will be eliminated immediately;
in 2014, Australian exports of these products to China were worth over $45 million, with total imports from the world into China worth over $1.4 billion
with elimination of the tariffs on these goods, there is great potential for Australia to grow its market share in China.
Export of kangaroo skins set to leap ahead with ChAFTA
The 9% tariff on kangaroo hides and skins and the 14% tariff on kangaroo leather will be eliminated over 4 years.
More broadly, tariffs of up to 14% on Australian hides and skins will be eliminated within 2 to 7 years of entry into forceHides and skins are a crucial agricultural export to China worth $910 million in 2014
accounting for 72% of Australia’s total hide and skin exports to the world and is more than ten times larger than our next largest market for hides and skins
Australian hides and skins make up over 10% of China’s total hide and skin imports in 2014, a market worth over $9 billion in 2014.
Elimination of tariffs on these goods opens great potential for further growth of Australia’s market share in China.
Australian opals ready to shine with ChAFTA
The 3% tariff on unworked opals will be eliminated immediately
The 8% tariff on worked opals, and the 35% tariff on related jewellery and articles will be eliminated within 4 years of entry into force;
in 2014, exports of opals and other precious stones* to China were worth over $4 million, with total imports from the world into China worth over $29 billion
with the elimination of the tariffs on these goods there is great potential for Australia to grow its market share in China.
Quenching China’s thirst for premium Australian whisky
Australia’s boutique whisky industry is growing rapidly and is enjoying increasing success on the world stage; with a Tasmanian whisky voted the world’s best in 2014. Under ChAFTA, Australian whisky producers can look forward to good outcomes to support growth in the Chinese market.
Tariffs of 10% on whisky will be eliminated within 4 years of entry into force;
in 2014, exports of whisky to China were worth $141 thousand
with the Chinese import market worth $119 million in 2014, there is great potential for Australian whisky.
in 2014, the Korean whisky market was worth $221 million
under the Korea-Australia FTA (KAFTA), Australian whisky will see the 20% tariff eliminated within 9 to 14 years.
Australia’s growing deer velvet industry can look forward to great outcomes under ChAFTA.
The 11% tariff on deer velvet will be eliminated within 4 years of entry into force
this outcome will support an ever growing Australian share in the Chinese deer velvet industry, worth $10.3 million in 2014.
Sea cucumbers are one of Australia’s oldest internationally traded commodities, known to have been traded as far back as the 1700s or possibly earlier, by Aboriginal Australians.
The 10-14% tariffs on sea cucumbers to be eliminated within 4 years of entry into force;
representing just 0.2% of China’s total imports of sea cucumbers to a market worth nearly $10 million in 2014.
（Reource：Australian Government Department of Foreign Affairs and Trade http://dfat.gov.au/）