On June 17 2015, the Chinese-Australian Free Trade Agreement
(ChAFTA) was signed to promote the growth of Sino-Australian trade,
which accumulated a total trade revenue of around $AUD160 billion
in 2013-2014. The deal also implements a new set of trade
regulations, providing better access for a myriad of Australian
originated products in the Chinese market, by ensuring that 95% of
Australian products exported to China will become duty-free.
The current (non-official) Chinese Tax Tariff commitments would
ensure that the majority of Chinese tariffs imposed Australian
goods would be reduced to 0% within 5 years.
Gradually Lowering of Duties
It should be noted that although the main purpose of the
agreement is to provide products of Australian origin with duty
free benefits, only a certain amount of goods would immediately
become tax free following the deal (A-0* category), whereas other
goods, such as Milk and Cream (depending on type) would fall under
the B12* or
