Chemical labelling to save $600 million per year

Australian chemical exporters and users of imported chemical products will save up to A$600 million per year following the decision by APEC Trade Ministers to implement standardised hazard classification and labelling.

Trade Minister Mark Vaile said the decision to implement the Global Harmonized System (GHS) on hazard classification and labelling of chemicals and safety data sheets by 2006 was good news for Australian chemical exporters and users.

"GHS will lead to uniformity in chemical labelling standards across the APEC region," Mr Vaile said. "This decision is expected to save Australian chemical users in the order of five per cent on chemical product costs.

"The APEC decision will also reduce labelling costs for Australian chemical exporters. Exporters and users should expect to see approximately $600 million per year in savings by 2006."

Mr Vaile said Occupational Health and Safety practices would also benefit from the APEC decision. "The GHS includes a harmonized set of classification criteria for physical, health and environmental hazards and a compatible set of safety data sheets for workers."

The United Nations is expected to formally approve GHS in November this year.