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IMPACT – LOW
What is the change? Australia and China have completed negotiations for a China-Australia Free Trade Agreement.
What does the change mean? Although the “CHAFTA” will take some time to undergo domestic debate and legal approval, the trade agreement will provide greater access for nationals of each country for intracompany transfers, providers of contractual services, business visitors, and visas for investment projects.
Background: On 17 November, the two countries signed a declaration of intent at Parliament House in Canberra, Australia, concluding negotiations and formalising their objectives to move forward to implement the agreement.
The agreement, nicknamed CHAFTA, will generally reduce barriers to workers moving between the two countries, increase investment and trade and facilitate temporary entry procedures. According to a fact sheet provided by the Australian Government, each side has made the following provisions.
China will provide guaranteed access to Australian citizens and permanent residents in the following categories:
Australia will provide guaranteed access to Chinese citizens for the following categories:
The agreement also calls for expedited processing and transparency of the visa application requirements and procedures, and streamline licensing and skills recognition of workers.
A memorandum of understanding on Investment Facilitation Agreements will allow Chinese-owned companies to negotiate more flexible labour requirements for overseas workers for infrastructure projects of more than A$150 million. They will be negotiated on a case-by-case basis consistent with Australia’s 457 visa system.
BAL Analysis: The agreement will not take effect for some time, as each country must introduce legislation to implement it. In its current form, it represents liberalization of barriers across many categories of workers, business visitors and investors.
This alert has been provided by BAL Australia. For additional information, please contact australia@bal.com.
MARN: 9683856
Copyright © 2016 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.
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