In their bid toward joining the World Trade Organization or WTO in 2001, China opened its doors to international traders. This is one of the central factors for its economic growth and the development of the export and import business. Today, countries seek out China for the high quality goods they offer which are very hard to come by. Australia is among the top trading partners for China. Many investors today want to discover effective ways on how to import commodities from China to Australia. The guaranteed high profit this venture brings has prompted many businessmen to invest in China's most sought after products.
Locating the Right Suppliers and Solutions
The first step when importing supplies from China is finding the right suppliers for your items. In this step, you are already building a solid foundation for your new business. You can also go online and search for suppliers. There's a vast multitude of websites that provide a list of providers for the particular product you wish to actually import.
Take note of the crucial steps you'll need to take for importing. Be aware who you're dealing with, do a background check. Previous customers should be able to provide you their testimonials about the service provided by a particular company you are interested in. Learn about their exporting experience. Can they send products to your country? Most importantly, you have to make sure that the supplier is willing to commit to a long-term business relationship with you. Make sure they also take into consideration the quality guidelines that you have imposed before you place an order. Minimize your risks by working with a reliable supplier who can work hand in hand with you efficiently.
Check the Quality before Your Commodities will be Shipped
One of the most common questions when you import from China is, “what are the ways to check the quality of the product before it will be shipped?” In the end, what is the point of saving money by buying at a cheaper price if you will end up getting a product that you can’t sell? One option is to rely on the supplier’s self-assessment. Create a check list of your desired product quality. Let your supplier complete the checklist before shipping to ensure high quality. You can now decide if shipping will go through or not.
Another way is to ask the supplier to send a photo of the product before it is shipped to you. It will allow you to see what to expect with the finished product. Depending on your request, this type of inspection can be very detailed. Be vigilant and request for samples of the packaging and other key components of your product. This is just one way for you to finally check your product. In some instances, the supplier may also limit what he wants you to see.
Before your shipment arrives, make sure to get a sample as part of your inspection process. This will enable you to perform appropriate testing with the product in your hands. If there are any issues, make sure to notify your supplier immediately.
Australian Import Duties and Regulations
Before you import goods from China to Australia, you have to be aware of the country’s dual tariff system. Pacific Island countries enjoy lower tariff rates. The rest of the world has a fixed rate specific to their respective countries. It is typically 5% higher than the preferential rates. These tariff rates also depend on what country the imported products came 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 with the import process.
Make Everything Clear
Lastly, you have to clarify the payment terms between you and your supplier. Then, arrange to transfer funds to finalize your purchase. Ensure that everything is documented and properly laid out especially your trade agreement with your supplier. Also, try to seek out the services of a customs broker to help you deal with the details regarding shipping, customs fees and other required documentation.