Jenny McAllister (NSW, Australian Labor Party, Minister for the National Disability Insurance Scheme) Share this | Hansard source

I move:

That these bills be now read a second time.

I seek leave to have the second reading speeches incorporated in Hansard.

Leave granted.

The speeches read as follows—

CUSTOMS AMENDMENT (AUSTRALIA-UNITED ARAB EMIRATES COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT IMPLEMENTATION) BILL 2025

The Customs Amendment (Australia-United Arab Emirates Comprehensive Economic Partnership Agreement Implementation) Bill 2025 amends the Customs Act 1901 to implement the Free Trade Agreement known as the Comprehensive Economic Partnership Agreement between Australia and the United Arab Emirates.

The Agreement will bring both commercial and strategic benefits. The UAE is Australia's largest trade and investment partner in the Middle East. In 2024, total trade between UAE and Australia was worth $12.3 billion. UAE investment into Australia rose to $14.7 billion in 2024 while our investment in the UAE rose to $9.0 billion resulting in two-way trade of $23.7 billion.

The Agreement will give a competitive advantage to Australian exporters by eliminating tariffs on over 99 per cent of Australian exports, by value; to the UAE.

It is estimated that this will result in tariff savings of up to $135 million on Australian goods exported to the UAE in the first year, rising to $160 million as tariffs are progressively eliminated over five years.

The Agreement locks in access to services markets, and provides a framework to facilitate investment to support Australia's energy transition and Future Made in Australia ambitions. It will also improve certainty for exporters and importers, service suppliers and investors across the whole economy.

The Agreement will support a strong and diversified economy that will enhance the resilience of Australia's trade and investment to future crises. It will also enhance Australia's economic engagement with the UAE through strengthened trade rules that will help build upon our already healthy trading relationship.

The amendments contained in this Bill will establish, in the Customs Act, the rules of origin and document retention requirements called for by the Agreement. Those amendments determine when imported goods from the United Arab Emirates in accordance with the Agreement may be considered to have originating status, called UAE originating goods, and be eligible for preferential rates of customs duty.

Complementary amendments to the Customs Tariff Act 1995 are also required to provide for these preferential rates of customs duty applicable to UAE originating goods.

The Joint Standing Committee on Treaties reviewed both the Agreement and related supplementary Investment Agreement, and recommended that they be ratified.

I commend this Bill to the Chamber.

CUSTOMS TARIFF AMENDMENT (AUSTRALIA-UNITED ARAB EMIRATES COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT IMPLEMENTATION) BILL 2025

The Customs Tariff Amendment (Australia-United Arab Emirates Comprehensive Economic Partnership Agreement Implementation) Bill 2025 will amend the Customs Tariff Act 1995 to implement the preferential rates of customs duty for UAE Originating Goods to implement the Free Trade Agreement known as the Comprehensive Economic Partnership Agreement between Australia and the United Arab Emirates.

These amendments, together with the amendments by the Customs Amendment (Australia United Arab Emirates Comprehensive Economic Partnership Agreement Implementation) Bill 2025, will ensure that Australia fulfils its obligations as a signatory to the Agreement and is prepared for the Agreement to enter into force for Australia.

This Bill will insert a new Schedule of duty rates into the Customs Tariff Act. Schedule 16 will contain the preferential rates of customs duty for imported goods that satisfy the rules of origin set out in the Agreement. UAE Originating Goods not set out in Schedule 16 will have a 'Free' rate of duty.

Australia has committed to reducing the rate of customs duty on most UAE Originating Goods to 'Free', either at entry into force or over several years following entry into force of the Agreement.

Excise-equivalent goods—which are certain fuel, alcohol, tobacco and petroleum products—that are UAE Originating Goods will continue to have excise equivalent duties of customs applied, so they receive the same treatment as domestically produced equivalents.

Finally, this Bill also amends certain tariff concessions to maintain their scope and ensure that commitments made under the Agreement are honoured.

The amendments in this Bill complement the amendments in the Customs Amendment (Australia-United Arab Emirates Comprehensive Economic Partnership Agreement Implementation) Bill 2025.

I commend this Bill to the Chamber.