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Australia:PM Howard extends ‘Sparteca’ - duty free access
for textiles, leather & accessories |
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2005-3-15
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For the next five years, the South Pacific Regional Trade and Economic Co-operation Agreement (Sparteca) has been extended to clothes, gloves, leather and carpets from the South Pacific to Australia.
Australian Prime Minister John Howard announced in August last year the duty-free scheme would be extended for countries covered by Sparteca.
Yesterday, legislation was introduced in the Parliament by Attorney-General Philip Ruddock, asking for the Sparteca''s textile, clothing and footwear scheme to go through the end of December in 2011.
Earlier in December 2004, the previous agreement had ended but now with the extension all 14 members Sparteca members, including Australia, Fiji, New Zealand, Papua New Guinea and the Solomon Islands will be benefited.
Apart from previously mentioned items, plastic and rubber gloves, wetsuits, leather garments, some woollen garments, and some carpets and rugs will also be covered under the agreement.
The cost to the government of extending the scheme is expected to be around $A1.2 million ($US951,120) per year for the first five years.
Today''s Customs Tariff Amendment Bill (No.1) 2005 also removes import taxes on extra goods and equipment associated with the exploration for oil and gas.
"The new item will reduce the cost of certain goods imported for use directly in connection with the exploration for, and discovery of, oil and gas deposits and the pre-production development of wells on those deposits, by allowing duty-free entry of those goods, provided that substitutable goods are not available from Australian manufacturers," Mr Ruddock told Parliament, however the debate on the bill was adjourned.
The measure will entails loss of revenue to the tune of about A$220,000 a year. |
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