Signing of TPP a significant milestone for agriculture and food exporters
Today’s signing of the agreed text of the Trans-Pacific Partnership (TPP) is the next step forward towards advancing opportunities for Australian agriculture and food exporters in a landmark regional trade agreement covering some of the world’s largest economies.
Federal Member for O’Connor Rick Wilson MP said the gains solidified today could drive stronger profits to Australian agricultural and food producers.
“The TPP is the latest in a string of trade deals signed by the Australian Government that are cutting tariffs and opening new opportunities for agricultural and food producers in O’Connor,” Mr Wilson said.
“The agreements with Korea, Japan and China are delivering real returns and we’re now working toward bilateral agreements with India and Indonesia—two important trading partners where demand for agricultural and food products is set to boom in the coming decades.
“At the same time, we are working hard to pursue improved technical market access because while tariff reductions and eliminations are essential we also need to achieve technical market access to translate FTA outcomes into real opportunities.”
Minister for Agriculture and Water Resources Barnaby Joyce MP said, “Today we’re a step closer to the benefits that will flow from the world’s largest ever regional trade agreement—an agreement including five of our top 10 trading partners.”
“These countries represent 25 per cent of world trade, 36 per cent of the global economy and around a third of our agriculture exports—and this agreement gives us preferential access that will have real, tangible outcomes for exporters of most of our main export commodities.”
The Coalition has also delivered on its $30.8 million Ag White Paper commitment to establish five new overseas agricultural counsellors to give Australian producers better access to premium overseas markets, tackle technical barriers to trade and expand into emerging markets while maintaining and strengthening Australia’s position in existing markets. This takes the total number of overseas agricultural counsellors from 12 to 17.
The five new agricultural counsellors have now commenced their postings in Vietnam, Malaysia, Saudi Arabia, China and Thailand, and substantially strengthen Australia’s existing overseas agricultural counsellor network in key markets based in Tokyo, Beijing, Seoul, Jakarta, Bangkok, New Delhi, Washington, Rome, Brussels and Dubai.
The 12 TPP parties comprise: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, NZ, Singapore, USA and Vietnam.