Today (Thursday 18 April 2024), the Australian Border Force (ABF) Commissioner, Michael Outram APM, and India's Central Board of Indirect Taxes and Customs Chairman, Sanjay Kumar Agarwal, took the next step towards strengthening our country's ties by signing the Australia-India Authorised Economic Operator (AEO) Mutual Recognition Arrangement (MRA).
Australia's 10th AEO MRA will provide reciprocal trade facilitation benefits and will support Australian Trusted Traders (ATT) to gain faster and more efficient access into one of the fastest growing economies in the world.
The instrument will be pivotal in driving an estimated $588 million growth of trade into the Australian market over the next ten years, including strengthening supply chain security and providing diversified markets for Australian traders.
ABF Commissioner Michael Outram said it is integral that Australia continues to further its relationships with fellow Customs administrations within the Asia Pacific.
"I am proud to sign the Australia-India MRA, which recognises and further strengthens customs-to-customs connections with one of our key regional partners and Australia's sixth largest trading partner," Commissioner Outram said.
"It is through collaboration and engagement that we can continue to thrive as a region and build our connections throughout the Asia Pacific and indeed the globe."
The MRA with India's Central Board of Indirect Taxes and Customs complements those MRAs already signed between the ABF and the Customs administrations of Canada, the People's Republic of China, Hong Kong SAR, Japan, the Republic of Korea, New Zealand, Singapore, Taiwan, and Thailand.
AEO MRAs are arrangements between Customs administrations with equivalent AEO programs developed in accordance with the World Customs Organization (WCO) SAFE Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework).
MRAs are a component under the ATT program, which allows Customs administrations to streamline border processing of goods, providing traders increased predictability, certainty and speed to market.
Eligible Australian businesses who are not yet part of the ATT program are encouraged to visit the ABF website, or submit an application to join the program.
