Major gains are in store for Australian agriculture producers in the world’s largest regional trade agreement with Australian farmers set to gain major new market access for agricultural products according to the federal government. Source: Timberbiz
Minister for Agriculture and Water Resources, Barnaby Joyce, said the conclusion of negotiations for the Trans–Pacific Partnership Agreement (TPP) between Australia and 11 other countries was a significant step in advancing the opportunities for Australia’s agriculture, food, fisheries and forestry producers in some of the world’s largest economies.
“The TPP provides significant advantages for Australian agriculture, with major improvements to access for beef, dairy, grains, cotton, sugar, horticulture, rice, seafood and wine across 11 countries, five of which are Australia’s top 10 trading partners,” Minister Joyce said.
“We currently export approximately $15 billion or around 33% of agricultural products to TPP countries, with many of our products currently facing high tariffs that add to the cost of exports.
“The TPP will eliminate tariffs on more than $4.3 billion worth of exports of Australian agricultural products.
“Reduced tariffs and improved access to TPP countries will be available for beef, sheep meat, pork, livestock, dairy, wine, seafood, wool, cotton, grains and a range of horticultural products.
Mr Joyce said that the Coalition Government understands agriculture, and the fact that exports underpin our producers’ prosperity. He stated that Australia is a trading nation, and to make sure farmers receive the best returns for their products, we need to make sure they have the best possible trade opportunities into a wide range of markets to receive our clean, green products.
“That’s why the government continues to strive for the best market access opportunities possible a commitment that’s reflected by the conclusion of this agreement, and also those signed with three of our biggest agricultural trading partners in China, Japan and Korea,” Mr Joyce said.
“While the agreement does not deliver on all the aspirations of all industries, I am pleased that the overall gains for the agriculture sector are real and provide for further expansion of trade in this region.
“And the negotiation isn’t an endpoint, it’s a beginning of a new relationship with TPP countries and one which we will use to continue to press for improved market access for our producers and exporters.
“We will continue to work hard to capitalise on those opportunities from the FTAs that the Coalition Government has signed with China, Japan, Korea, and now with other Asia-Pacific nations, and to strengthen Australia’s productive capacity and competitiveness to supply Asian and other international markets.”
The 12 countries party to the Trans-Pacific Partnership Agreement are: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, the United States and Vietnam.
