Despite the current climate,
Australia is seen to be in a better position than most other countries due to its government's flexibility in
its policy reforms and the stability
of its financial system. IE
Singapore's North Asia & Pacific Division offers insights.
Results from a feasibility study conducted with the help of O&L Consultancy allowed Utopia to
adjust their target group and positioning for the Australian
market.
UPS EXPORT SERIES
UPS operates daily flights from Singapore to major Australian cities such as Melbourne, Perth and Sydney, utilising common carriage flights to meet the shipping needs of its customers.
Australia's per capita gross domestic product (GDP) is on par with the top West European economies. Having recorded solid expansion in the past 17 years, Australia's robust business, consumer confidence and high export prices for raw materials and agricultural products have fueled its economy in recent years.
Even with declining export commodity prices, the Australian economy continues to be relatively strong. The government's fiscal stimulus efforts in 2009 are likely to deal with the slowing expansion.
Technologically advanced and industrialised, Australia's GDP reached an estimated US$800.5 billion in 2008. Its major industries are mining, industrial and transport equipment, food processing, chemicals and steel.
The Singapore-Australia Free Trade Agreement (SAFTA) came into effect in 2003. Bilateral trade between Australia and Singapore reached an estimated US$14.5 billion in 2007 compared to US$9.4 billion in 2004. Singapore is currently Australia's largest trading partner in Southeast Asia.
Major Singapore exports to Australia include refined petroleum, non-monetary gold, computers and musical instruments. Meanwhile, imports from Australia include crude petroleum, refined petroleum, non-monetary gold, and milk and cream. Australian food exports such as meat, dairy products, fresh fruit and vegetables account for about 15 percent of total exports to Singapore and are the largest export item after crude oil.
Adhering to the following stipulations will help companies to avoid customs delays in Australia:
Goods of Singapore Origin - Australian customs will require a Certificate of Origin for goods claiming preferential terms under SAFTA. If Singapore origin is not stated on the commercial invoice at time of importation, preference will not be claimed and the standard schedule duty rates will apply.
Medicine - The importation of medicines into Australia is regulated under the Therapeutic Goods Act. If the medicines are not registered with the Therapeutic Administration then they are not permitted entry into Australia. Permits to import are required for certain goods such as steroids.
Samples - The invoice must have a clear description and state the material composition of the sample. Samples without clear description will be subject to quarantine inspection.
Software - All software shipments must include the value of the disk and the intellectual property or programming. If the goods are blank disks, then the description on the invoice must mention the fact.
Food - All goods containing meat, dairy, fish and bee product will require permits to import. Quarantine charges apply for food importation. Makings must show manufacturer, distributor, importer, quantity, ingredients, and country of manufacture information on the packaging.
Need further information? UPS can advise you on any restrictions or special requirements for shipping to Australia.
A complimentary service by www.iadvisory.com.sg
Name: Sunny Chia
Company: UPS
Expertise: Import/Export
Market: Asia Pacific, Europe
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