GENERAL

Korea-Australia Free Trade Agreement (KAFTA) scheduled to begin on 01 December 2014

Legislation which gives effect to the Korea-Australia Free Trade Agreement (KAFTA) has been introduced into the Australian House of Representatives.

This legislation foreshadows a commencement date of 01 December 2014.

Assuming that the Australian legislation passes, the KAFTA will only be applicable to imports from 01 December 2014 if both Australia and Korea complete their domestic treaty making approval process and exchange diplomatic notes prior to 01 December 2014.

On commencement of the KAFTA, over 90% of tariff lines will be immediately reduced to 0% with almost all remaining lines reducing to zero over the next 5 years.

What to do next:

• Where duty currently applies, ask the exporter/manufacturer to assess now whether the goods will meet the rules of origin (they probably have reviewed the local content etc. for other FTAs)
• If the goods are Korean originating goods, ask the exporter/manufacturer to be prepared to have certificates of origin issued for all exports to Australia expected to qualify for preferential treatment under the KAFTA.

Third Party Logistics (3PL)

5 Advantages to Use 3PL services

Third Party Logistics also known as 3PL has become an increasing high demand for business and networks around the world.

There are a multitude of benefits for outsourcing your supply chain management and logistics to a 3PL solution, here are just five reasons:

• Save Time and Money
• Established Network
• Expertise
• Scalability and Flexibility
• Continuous Optimisation

If you would like to know more about our 3PL solutions, please feel free to contact our Business Development Team on (02) 9316 5744.

OCEAN FREIGHT

General Rate Increase (GRI)

Ocean Carriers operating from North East Asia to Australia have announced a possible GRI of USD500/20’ and USD1,000/40’ effective 15 October 2014.

Ocean Carriers operating from South East Asia / Middle East and Indian Sub-Continent to Australia have announced a possible GRI of USD100/20’ and USD200/40’ effective 01 November 2014.

Even though a number of Ocean Carriers have made these announcements, we will be closely monitoring the situation and ONLY on-charge whatever increases are implemented by them.

• November 27
• August 10

• August 19
• March 10

• July 28
• April 29
• February 26

• September 29
• September 24
• September 11
• July 06
• May 29
• February 07
• January 20

• November 26
• October 08
• July 04
• Ferbuary 28

• December 24
• August 31
• August 08
• July 11
• March 19
• Ferbuary 02
• January 19
• January 17

• December 07
• August 24
• June 20
• April 07
• March 17

• July 04
• February 08

• November 09
• May 14
• February 5

• October 14
• September 1
• August 1
• July 1
• March 18

• December 19
• October 24
• September 20
• August 22