As an integral part of the global economy, we have all witnessed very quickly how deep of an impact COVID-19 has had on our daily lifestyles and the world as we once knew it. Between factories shutting down and aircraft being grounded, our international freight forwarding industry has experienced a significant downturn, the likes of which we have rarely seen before. Whilst we all stay at home without access to our gyms, restaurants, friends and family, Australia’s two-way trade rumbles on to ensure our communities have the necessities we need to survive.
Recent trade sanctions imposed against Australia’s beef and barley exports to China indicates increasing global tensions and significant risk to our economy, whilst regulatory trade requirements are increasing on the home front side to ensure our borders continue to be protected throughout the pandemic.
This has resulted in a heightened regulatory focus on dumping duties for a wide-range of steel and aluminum products from South East Asia, registration of certain therapeutic goods (TGA) used to combat COVID-19, Prohibited Imports such as asbestos and Prohibited Exports such as non-commercial COVID-19 related goods, coinciding with the launch of AICIS (the new NICNAS) and new Product Emissions Standards legislation from July 1, 2020.
However, the introduction of a temporary by-law for COVID-19 related products and the introduction of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) on July 5, 2020 offer welcome developments to reduce duty exposure on the import front.
Now more than ever is the time to ensure the customs brokerage and freight forwarder acting on behalf of your business have a comprehensive understanding of the current climate and the requirements unique to your supply chain. With 125+ years’ experience, BCR Australia are expertly equipped to support your business and provide precise trade advice.
We are here to help you navigate this uncertain terrain and encourage you to reach out to me with any questions or concerns you may have.
Author Craig Cowin
National Customs Manager