4/12/2014

To all our valued customers

Please be advised that the Australian and Korean governments have now announced  that the Australia – Korea Free Trade Agreement with Australia (KAFTA) will take effect on December 12^th (next Friday).  This means that any entry lodged from that date will attract reduced duty rates, provided the goods shipped comply with  KAFTA rules.  The following link directs you to the relevant press release :-

http://trademinister.gov.au/releases/Pages/2014/ar_mr_141203.aspx

Preferential rates of duty, many of which will actually be duty free, will apply to most ( but not all ) goods. Should you have any queries relating to your line of products sourced from Korea, and whether they qualify for preferential duty rates, please feel free to make contact with your BRi customs broker.

Those goods which qualify for KAFTA preferential rates of duty will require a KAFTA certificate of origin, completed by the exporter or producer in Korea.

Model format of KAFTA certificate of Origin

The certificate of origin must contain the following data elements :-

1. Issuing number
2. Exporter, including contact details
3. Blanket period for multiple shipments
4. Producer, including contact details (optional)
5. Importer, including contact details (optional)
6. Description of good(s)
7. Harmonized System code (six digits)
8. Preference criterion
9. Observations (optional)
10. Declaration
11. Name, signature, company or authorised body and contact details of person completing the Certificate of Origin; and date of issue.

BRi will pass on more information as it comes to hand.

In the meantime, if you are considering importing from Korea it is recommended you contact your assigned Customer Solutions Representative.

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