ChAFTA — Opening new opportunities for Australian products in China
ChAFTA gives innovative Australian medical products a leg-up
Highly advanced, Australian researched and designed medical devices such as hearing aids and implantable medical devices will benefit from the China-Australia Free Trade Agreement (ChAFTA).
The 4 per cent tariff on hearing aids and implantable medical devices was eliminated on 20 December 2015 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
Australia's already large trade in hides, skins and leather products with China, will benefit from ChAFTA.
- The 9 per cent tariff on kangaroo hides and skins and the 14 per cent tariff on kangaroo leather were eliminated by 1 January 2019.
- More broadly, tariffs of up to 14 per cent on Australian hides and skins were eliminated between 1 January 2017 and 1 January 2022
- Exports to China accounted for over 75 per cent of Australia's total hide and skin exports to the world and more than ten times larger than our next largest market for hides and skins
- 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
Australia's world-renowned opal products will benefit under ChAFTA.
- The 3 per cent tariff on unworked opals was eliminated on 20 December 2015.
- The 8 per cent tariff on worked opals, and the 35 per cent tariff on related jewellery and articles are being eliminated by 1 January 2019.
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 per cent on whisky were eliminated by 1 January 2019.
Australian deer velvet making tracks in China
Australia's growing deer velvet industry can look forward to great outcomes under ChAFTA.
- The 11 per cent tariff on deer velvet is being eliminated by 1 January 2019
- this outcome will support an Australian share in the Chinese deer velvet industry, worth $46 million in 2017.