Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to 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 (JAPAN-AUSTRALIA ECONOMIC PARTNERSHIP AGREEMENT IMPLEMENTATION) BILL 2014

The Customs Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014 amends the Customs Act 1901 to implement Australia's obligations under Chapter 3 of the Japan-Australia Economic Partnership Agreement.

Chapter 3 sets out the rules of origin criteria and related documentary requirements for determining the eligibility of goods to obtain preferential tariff entry into Australia under the Agreement.

The complementary Customs Tariff Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014, will amend the Customs Tariff Act 1995 to set out Australia's tariff commitments under the Agreement.

The Agreement was signed by Prime Minister, the Honourable Tony Abbott MP and his Japanese counterpart, Prime Minister Shinzo Abe, on 8 July 2014 in Canberra, Australia. The Governments of Australia and Japan have agreed to aim for the Agreement to enter into force early in 2015.

The Japan-Australia Economic Partnership Agreement is a comprehensive agreement that substantially liberalises trade with Japan and creates significant new commercial opportunities for Australian businesses. Japan is Australia's second-largest trading partner and the implementation of this Agreement will significantly boost Australia's position in this major market, as this Agreement is the most liberalising trade agreement Japan has ever concluded.

More than 97 per cent of Australia's exports to Japan will receive preferential access or enter duty free on full implementation of the Agreement. There will also be significant new market openings in services and investment.

The Agreement contains simplified and trade facilitative rules of origin and related documentary requirements. Goods imported into Australia that meet the rules of origin, implemented through this Bill, will be entitled to claim preferential tariff treatment in accordance with the Agreement.

The amendments include relevant obligations on Australian exporters and producers who wish to export Australian goods to Japan under the Agreement and obtain preferential treatment for those goods in Japan. The amendments also confer certain powers on authorised officers to examine records and ask questions of exporters or producers of goods exported to Japan in order to verify the origin of such goods.

The Agreement reflects Australia's close bilateral economic relationship with Japan.

CUSTOMS TARIFF AMENDMENT (JAPAN-AUSTRALIA ECONOMIC PARTNERSHIP AGREEMENT IMPLEMENTATION) BILL 2014

The Customs Tariff Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014 is the second bill relating to the Japan-Australia Economic Partnership Agreement.

This Bill contains amendments to the Customs Tariff Act1995 to implement part of the Agreement by:

This Bill complements the amendments contained in the Customs Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014.

Nova Peris (NT, Australian Labor Party) Share this | Link to this | Hansard source

In accordance with standing order 115(3), further consideration of these bills is adjourned to 27 November 2014.