An MRA is an official arrangement between customs agencies that acknowledges supply chain security programmes and provides benefits to each country's trusted partners. MRAs also provide border agencies with greater end-to-end assurance over imports and exports.
The Australia-New Zealand MRA will ensure that members of the ATT programme and the NZCS Secure Exports Scheme receive preferential border treatment and trade facilitation benefits when conducting trans-Tasman trade.
Both nations’ will benefit from increased contributions to international supply chain security and trade facilitation. It is anticipated that the MRA will allow up to 13 per cent of New Zealand import volume to Australia – totalling $3 billion – to be facilitated, along with $7.5 billion of Australian exports by 2020.
The combined $10.5 billion of trans-Tasman trade that will be facilitated by and secured through the MRA demonstrates a significant return on investment. Industries across both countries are sure to benefit from the increase in the international competitiveness of the region.
The future holds further benefits as the Department has also formally agreed to work towards mutual recognition of our respective supply chain security programmes with the Canada Border Service Agency, Hong Kong Customs and Excise and Singapore Customs. These agreements were made through the signings of Statements of Intent and Action plans. The Department also reaffirmed Authorised Economic Operator cooperation with China with the signing of the latest schedule of the Strategic Partnership Program.
Australian importing and exporting can be a complicated process, with many schemes and benefits available for companies. Seabridge offers a complete customs consultancy service which provides comprehensive customs information, advice and clearance services. To learn more about customs and quarantine compliance, contact Seabridge today on 1800 727 195.