By King & Wood Mallesons

After a decade of negotiations and over a year of fine tuning, the much anticipated China-Australia Free Trade Agreement (ChAFTA), which was signed on 17 June 2015, will finally come into force on 20 December 2015, cementing the most favourable trade deal that China has concluded with any developed economy.

Under the agreement, more than 86 per cent of Australia’s goods exports to China (worth more than $86 billion in 2014) will enter duty free, rising to 96 per cent when ChAFTA is fully implemented on 1 January 2016.

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