When the China Australia Free Trade Agreement (ChAFTA)
is implemented, well over 50% of Australia's trade in goods
will be potentially covered by free trade agreements. However, free
trade does not mean risk free trade. A company's ability to
utilise ChAFTA in a compliant manner may heavily depend on the
involvement of in-house counsel. This represents a great
opportunity for the legal team to facilitate both lower trade costs
and supply chain efficiencies.
Ownership of FTAs by in-house counsel is a key to increasing FTA
utilisation. Too often FTAs are not used because of their
complexity, other times they are incorrectly used. Logistics teams
need legal support to fully utilise FTAs. Below are some tips for
the role in-house counsel can play in increasing the correct use of
FTAs, providing your business with a globally competitive
advantage.
