Korea – Australia (KAFTA) Free Trade Agreement

Back in March we reported on the Australian Prime Minister, Tony Abbott, and his discussions with various countries on accelerated free trade agreements.

Today we are happy to advise that the agreement between Australia and Korea has now been given an implementation timeline – KoreaFTA.

Trade with Korea is expected to lift 23% by 2030, with agriculture exports expected to see a significant rise by 73% by 2030.

There are several more steps that must be completed in parliament prior to commencement, however these are expected to be finialised by the end of this year.

If you require any further information regarding this announcement, please kindly contact Customs Manager, Phil Gray, directly.