This resource offers guidance on how to make the most of the Korea-Australia Free Trade Agreement (KAFTA). It aims to help exporters and importers maximise the benefits of KAFTA’s preferential tariffs when trading between Australia and Korea.
Using KAFTA to Import and Export Goods
Follow these steps to ensure your goods qualify for preferential tariff treatment.
Step 1: What goods am I exporting/importing? (tariff classification)
Identify the Harmonised System code for a good.
Step 2: How are these goods treated under KAFTA? (tariff treatment)
Identify the preferential tariff for a good. Most eligible goods will benefit from a preferential or lower tariff rate under KAFTA.
Step 3: Where are my goods produced? (rules of origin)
Only goods that originate in Australia or Korea are eligible for preferential tariff treatment under KAFTA. There are specific rules to determine eligibility.
Step 4: My goods qualify for preferential treatment under KAFTA. How do I ensure I get the lower tariff rate?
Claims for preferential treatment under KAFTA must be accompanied by appropriate documentation. Refer to Chapter 3 – Rules of Origin for further information.
Comprehensive instructions
Helpful Links
FTA Portal – Access the latest information about Australia’s in-force Free Trade Agreements (FTAs). This user-friendly site helps you compare agreements including tariffs, Harmonised System Codes (HS Codes), rules of origin requirements, and find the best fit for your business needs.