Benefits for small and medium-sized enterprises

The Australia-European Union Free Trade Agreement (A-EU FTA) will help small and medium-sized enterprises (SMEs) seize new market access opportunities arising from the agreement.

Overview

The A-EU FTA will create new commercial opportunities for Australian businesses of all sizes. The agreement explicitly recognises the importance of SMEs and is designed to maximise their ability to benefit from these opportunities by lowering trade barriers and cutting red tape – saving time and money for SMEs and their customers.

SMEs will benefit from:

• elimination of tariffs on 98 per cent of the current value of Australia's goods exports at full implementation
• elimination of tariffs on imports into Australia, supporting SMEs to import quality inputs to their businesses from the EU at lower cost and diversify sources of supply
• simple, low-cost origin procedures and electronic submission of import documents
• advance rulings on origin and tariff classification to provide certainty for importers and exporters
• expeditious clearance and release of goods
• better access to bid on lucrative EU government contract opportunities – worth over $845 billion annually
• streamlined processes for recognition of Australian professional qualifications across the EU
• commitments to ensure product standards, technical regulations and conformity assessment procedures do not create unnecessary barriers to trade
• transparent trade and investment rules
• modern rules that facilitate digital trade and e-commerce
• easy access to information to help SMEs trade under the A-EU FTA.

Australia and the EU will work together to:

• provide accurate, up to date information to help SMEs use the A-EU FTA
• ensure SMEs' needs are taken into account in the implementation of the A-EU FTA
• give SMEs the tools to take advantage of new market access opportunities.