How To Import Goods From China To Australia - Top Things You Must Know
In 2001, as China joined the WTO or World Trade Organization
, it opened its doors to the world. This is one of the major factors that contributed to its economic growth and the development of its export and import business. Almost all states nowadays are trading with this country as it offers affordable products that they cant find anywhere else. Australia is among the top trading partners for China. In fact, many investors today want to discover effective ways on
how to import goods from China to Australia. The guaranteed high profit this venture brings has attracted many businessmen with to invest in China.
Locating the Right Suppliers
Locating the right suppliers and models is the most crucial step. One of the ways to find suppliers is through the internet. There are many sites that you can visit which can supply you a list of manufacturers for the particular product that you want to import.
In order to really ensure the reliability of a potential manufacturer, do a background check. For example, you can ask for testimonials from your suppliers previous customers to determine his/her reputation. Make sure the supplier has already exported in the past. Most importantly, make sure that the supplier is willing to commit to a long-term business relationship with you.
Make sure you both agree on the quality guidelines that you have imposed before you have place an order.
It is your responsibility to manage your risk by making sure that you find a reliable and trustworthy supplier who can assist you with your needs.
Quality Check
Let's talk about the importance of doing quality checks. Will you trust your supplier's word that he will provide the best quality?
Make an unbiased check on the product quality against the supplier's assessment. Hire a team to inspect the quality of your goods before shipping. You can approve it or not depending on your satisfaction.
You can also request for images of the product before having it shipped. It will allow you to see what to expect from your items. Make sure to request for a detailed quality check. You can also request for pictures of the packaging, key components of the product, etc. Making inspections in this manner is still quite limited. The supplier can also opt to choose what aspect of their production you'll be able to see.
Ask for a sample of your products before they start shipping. This will allow you to do your own individual product assessment. This will allow you to check for any issues or concerns which you can then report immediately to the manufacturer.
Australian Import Duties and Regulations
Before importing from China to Australia, make sure you are aware of this countrys dual tariff system. Understand that you will incur expenses for taxes. Developing countries have lower tariff rates. The rest of the world has a fixed rate specific to their respective countries. The difference between preferential and delineating rates is 5%. These tariff rates also depend on what country the imported items come from.
Another thing, although import licenses are being phased out, there are still exceptions for some heavy machinery categories. Thus, check this one out before proceeding if you want to import heavy machinery.
Clarify the Payment and Trade Terms
Take note of all the payment details between you and your supplier. Arrange proper transfer of funds before finalizing your order. Ensure that everything is documented and properly laid out especially your trade agreement with your supplier.
A customs broker can also help minimize your headaches by dealing with all the other customs related details.
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