The Malaysia – Australia Free Trade Agreement (MAFTA) came into force 1st January, 2013.
Under the MAFTA, importers will be entitled to duty-free entry for goods imported from Malaysia, provided that the goods meet the MAFTA rules of origin requirement.
MAFTA does not require FOB value to be listed on the Certificate of Origin, which may assist importers who import third party goods in that they will not need to divulge business in confidence information (the original price paid) for the goods.
MAFTA allows repacking and relabelling of goods under the consignment provisions where these actions invalidate goods under AANZFTA.
For importers currently claiming AANZ Preference, there is a slight difference between MAFTA and AANZFTA in Certificate of Origin requirements and the consignment provisions. Apart from that, rules of origin are similar.
Under the MAFTA, the only goods that are excluded from duty free preference is excise equivalent goods such as alcohol, tobaccoo and petroleum products.
Upon entry of MAFTA, a Certificate of Origin (COO) is required to support the claim for MAFTA preferential treatment. The COO must be issued by a designated Issuing Authority in Malaysia.
If you have any questions or require further information, please do not hesitate to contact Hornet Group on +61 2 9653 9127 or email us at email@example.com.