The Australian Forest Products Association (AFPA) has welcomed the Federal Government’s explicit guarantee that projects involving the processing of native forestry products will be eligible for support under the newly established National Reconstruction Fund. Source: Timberbiz
The Bill, which is aimed at increasing Australia’s manufacturing base and dependence on imports, received support from the crossbench and will invest $15-billion dollars into the Australian manufacturing industry.
The $15 billion Fund will provide loans, guarantees and equity to support projects that create secure well-paid jobs, drive regional development, and invest in our national sovereign capability, broadening and diversifying Australia’s economy.
The National Reconstruction Fund will be administered by an independent board with government setting its mandate to drive investment in key sectors focusing on value adding and capability development to leverage Australia’s natural and competitive strengths including:
- Value add in resources: Expand our mining science technology, ensure a greater share of the raw materials we extract are processed here, for example, high purity alumina from red mud in bauxite processing or lithium processing for batteries.
- Value add in the agriculture, forestry and fisheries sectors: Ensure we unlock potential and value add to our raw materials in sectors like food processing, and textiles, clothing and footwear manufacturing.
- Transport: Develop our capabilities in transport manufacturing and supply chains including for cars, trains and shipbuilding.
- Medical science: Fulfil our potential, given our world leading research, in providing essential supplies such as medical devices, and Personal Protective Equipment (PPE), medicines and vaccines.
- Renewables and low emission technologies: Pursue commercial opportunities including from; components for wind turbines; production of batteries and solar panels; new livestock feed to reducing methane emissions; modernising steel and aluminium; hydrogen electrolysers, and innovative packaging solutions for waste reduction.
- Defence capability: Maximise our requirements being sourced from Australian suppliers employing Australian workers, whether they be technology, infrastructure or skills, complimenting Labor’s Defence Industry Development Strategy.
- Enabling capabilities: Support key enabling capabilities across engineering, data science, software development including FinTech, EdTech, AI and robotics.
AFPA CEO Joel Fitzgibbon thanked Tasmanian Senators Jacqui Lambie and Tammy Tyrrell for their efforts to support native forestry during negotiations on the legislation.
“The Greens amendments removing sustainable native forest harvesting eligibility under the NRF legislation was a stunt with no practical effect but with JLN support we were able to secure comfort on the value-adding front,” Mr Fitzgibbon said.
“I also thank Coalition MPs and Senators for their ongoing support for our sector.
“Australia’s sustainable native forest industries should be recognised as a beacon, operating to world class environmental standards while producing essential products that we cannot live without. They also employ many thousands of people, especially in rural and regional Australia and allow Australians to access essential native timber and fibre products that would otherwise come from less environmentally reputable supply chains internationally.
“I look forward to continuing to work with all Members and Senators across our Federal Parliament to ensure a strong, resilient and sustainable future for Australia’s world class native forest industries,” Mr Fitzgibbon said.
