A new trade arrangement with Thailand will boost Australia’s economic recovery and increase the attractiveness of the Australian Trusted Trader program (ATT).
On 1 April 2021, Australian Border Force Commissioner Michael Outram APM and Director General of Thai Customs, Mr Patchara Anuntasilpa, signed the Australia-Thailand Authorised Economic Operator (AEO) Mutual Recognition Arrangement (MRA) to recognise formally each other’s AEO programs.
The Assistant Minister for Customs, Community Safety and Multicultural Affairs, The Hon Jason Wood MP, emphasised that MRAs reduce the regulatory burden on Australian businesses and promote market access for exporters.
“Thailand is Australia’s eleventh largest trading partner, with $21.6 billion in two-way trade in 2019-20. The MRA with Thailand will provide faster and more efficient access for Australian Trusted Traders into the market of the second-largest economy in South East Asia,” Assistant Minister Wood said.
“By improving competitiveness in the international trade market, Australia will benefit from greater job opportunities and investment – this is critical to reboot Australia’s economy in the wake of the COVID-19 pandemic.”
MRAs are a benefit under the ATT program and enable customs administrations to streamline border processing of goods, providing traders increased predictability, certainty and speed to market.
The ABF has also signed MRAs with the Customs Administrations of Canada, the People’s Republic of China, Hong Kong SAR, Japan, the Republic of Korea, New Zealand, Singapore and Taiwan. Over the next ten years, MRAs will provide an estimated benefit of $2.8 billion to industry.
Eligible Australian businesses who are not yet part of ATT are encouraged to visit the ABF website, or submit an application to join the program. To find out more, and to join, visit www.abf.gov.au/trustedtrader.