Looking for countries to import product from, other than China?
Think Malaysia. This week (06/12/12) legislation was approved for a Tree Trade Agreement (FTA) between Australia and Malaysia.
Opportunities to import from Malaysia to Australia
What this means is that you will be able to import from Malaysia to Australia and enjoy lower costs of imports due to reduced import tariffs, or duty. Already Australia and Malaysia trade is worth $16 billion a year, with the major imports from Malaysia to Australia being computers, monitors, projectors and televisions.
This means that once signed, the Malaysia Australia FTA will reduce import tariffs on more than 90% of goods, and in turn Australian exporters will enjoy zero tariffs on more than 97% of goods exported to Malaysia. This will increase to 99% of goods by 2017.
Opportunities for Exporters of Australian Services to Malaysia
A special sweetener is that Malaysia will allow majority ownership for Australian services businesses, that set-up in that country. The markets for tourism, education, insurance, accountancy and telecommunications are all viable export services from Australia to Malaysia. With a high rate of English language proficiency, and comparable legal and accountancy systems based on our common British colonial rule, Malaysia should certainly be a shortlist export destination for services providers. Australia has been a very popular destination for Malaysian students for some time.
How a Free Trade Agreement between Australia and Malaysia will help importers?
Already Australia has a Free Trade Agreement with Thailand, that has seen a huge variety of goods imported from Thailand to Australia reduced to zero or very low import tariff, and the value and huge variety of products being imported from Thailand has increased significantly. There is every reason to think that this success will transfer to Malaysia. Malaysia is a high technology manufacturer location and a major exporter of electrical goods, solar panels, computers and accessories and semiconductor components and devices.
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by Craig Ford
How to import from Malaysia to Australia – My Import Label