Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA)
In a recent Australian Customs Notice published by the ABF, it has been announced that the preference rule options to claim Free Trade under the AANZFTA will be reduced from 7 down to 3.
Although the AANZFTA Certificate of Origin may include additional details, goods that are AANZ Originating Goods because they meet the requirements of Annex 2 (Product Specific Rules) of the Agreement that are currently using Preference Rule Codes CTC, CTH, OTH or RVC should instead use Preference Rule Code PSR.
Importers are encouraged to transition to using Preference Rule Code PSR in place of CTC, CTH, OTH or RVC as soon as practical but must do so by 31 December 2021. The ABF will end the ability to use Preference Rule Codes CTC, CTH, OTH or RVC when entering suitable goods eligible for a preference under the AANZFTA after 31 December 2021. Please ensure that your suppliers are aware of the new requirements and transition away from using the Preference rules highlighted below and to use PSR instead of these options if goods qualify for the AANZFTA.
If you are unsure, please reach out to your Key Account Manager to review.