Australia’s services sector can better access the full potential of our Free Trade Agreements (FTAs), with a recent upgrade to the award-winning (FTA) Portal.
Australian services providers now have up-to-date guidance on selling to overseas customers, travelling overseas to supply services, and establishing a competitive global presence.
The portal upgrades include information on the commitments FTA partners have made available to Australia’s architectural, engineering, legal, accounting, auditing and taxation sectors. These sectors accounted for more than $8.5 billion in services exports last year. Other sectors will be added by the end of June 2018.
“The Turnbull Coalition Government is committed to helping Australian businesses grow and create new jobs through increased exports,” said Trade Minister Steven Ciobo.
The Portal won Best Applications Development at the Australian Government ICT Awards in 2016 and attracts around 2,600 unique users each week.
Helping traders identify opportunities
“It is a key instrument in helping Australian businesses make the most of international trade agreements,” Mr Ciobo said.
The Portal already provides free information on tariffs and rules of origin, helping traders identify opportunities in specific markets. It also includes an interactive tool to compare bilateral and regional FTAs to identify the best access for exports.
A recent study of FTA Utilisation, commissioned by the Department of Foreign Affairs and Trade and conducted by PwC, found commitments to liberalise services are still new territory for businesses.
The expanded Portal is designed to help Australian services providers better understand how trade agreements can assist their businesses.
Goods and services commitments in new FTAs, such as the recently signed TPP-11, will be added to the Portal once the agreements enter into force.