Faster and more streamlined trade for trusted Australian businesses is one step closer, with the Government today announcing almost $70 million for the implementation of the Australian Trusted Trader (ATT) programme.
ATT is a partnership between Government and private industry aimed at enhancing trade by improving the international competitiveness of Australian businesses.
The Minister for Immigration and Border Protection, Peter Dutton, today announced the pre-budget funding of $69.9 million over four years in Sydney while meeting with the first businesses to enter into an Australian Trusted Trader agreement – IKEA Supply AG; Pacific Brands Holdings Pty Ltd; Techwool Trading Pty Ltd; and Teys Australia Beenleigh Pty Ltd.
“This is an important investment that will help Australian businesses remain economically competitive on the world stage, while also strengthening international trade and security,” Mr Dutton said.
“The volume of goods crossing our borders is growing, with an expected increase of 14 per cent in sea cargo and 26 per cent in air cargo between 2014-15 and 2018-19.
“In our globalised world, we need to ensure Australia’s border and supply chain management is as efficient as possible to maximise the benefits to business and the economy.
The Australian Logistic Council estimates that as much as $1.5 billion can be saved for every one per cent increase in efficiency of transport and logistics supply chains. These savings will flow directly and indirectly to industry and the Australian economy.
Under ATT, businesses that meet or exceed international supply chain and trade compliance standards will receive priority treatment and other incentives. Benefits include a dedicated account manager; faster cargo clearances at the border; Mutual Recognition Arrangements with key trading partners; duty deferral (from financial year 2017-18) and periodic reporting (from financial year 2017-18).
“By offering incentives to ATT businesses, a growing proportion of international trade will become secured to an internationally recognised standard,” Mr Dutton said.
“This will allow Australia’s border agencies to focus their intelligence and operational capabilities on high-risk activities and will help combat transnational crime at our borders.
“ATT is an example of how the Australian Government is delivering innovation in border management and demonstrates our commitment to developing programmes through partnerships with industry.”
ATT is being implemented as part of Australia’s G20 growth strategy. Australia joins 64 other nations as having Authorised Economic Operator (AEO) initiatives.
The Department of Immigration and Border Protection has been working closely with industry throughout the design and development stages of the ATT pilot programme. It will be implemented from 1 July 2016.
For further information: Minister’s Office – 02 6277 7860