TradeLane

If it feels like the Australia-India Comprehensive Economic Cooperation Agreement (AI CECA) has been a long time coming, it’s only because it has…

Negotiations commenced in May of 2011 and suspended in 2015 while both countries pursued multilateral agreements before recommencing in June of 2020. On the 2^nd of April 2022, however, an interim Australia-India Economic Cooperation and Trade Agreement (AI ECTA) was signed, effectively fast-tracking some of the key economic benefits whilst the larger AI CECA continues to be negotiated.

Australia's Prime Minister, Scott Morrison, announced that the Australian Government would enact further economic measures against both the Russian Federation and the Republic of Belarus.

In October 2016, the then Department of Immigration and Border Protection (DIBP) in Australia published DIBPN 2016/35, Voluntary Disclosures under Section 243T and Section 243U Customs Act 1901 (Cth). In this notice, DIBP, now the Department of Home Affairs (DHA), highlighted their commitment to working with the industry to encourage higher levels of voluntary compliance by providing increased transparency to the regulatory trade environment.

A review of New Zealand’s Customs and Excise Act 1996 (“the previous Act”) commenced in 2013, to address parts of the previous Act that dated up to 100 years old. After extensive discussions with stakeholders and industry professionals, the new Customs and Excise bill was introduced in November 2016. On the 22 March 2018, it passed its third reading in Parliament and has now received Royal assent.

Why the change?

As mentioned, the previous Act was, in many respects, outdated and in need of review. The Customs and Excise Act 2018 (“the Act”) will enable the New Zealand Customs Service (“NZ Customs”) to keep up with the rapid changes in international trade, travel, security, and technology.