The Australian Dairy Industry Council (ADIC) has welcomed the official signing of the China- Australia Free Trade Agreement (ChAFTA) as a further positive step toward securing improved trade liberalisation with Australia’s largest dairy export market.
ADIC Chair, Noel Campbell said the deal recognises dairy as one of the nation’s export strongholds.
“China is a significant dairy market for Australia and currently ranks first by value with $501 million worth of exports in 2013/14,” Mr Campbell said.
“This agreement allows our industry to further develop its long-term relationship with China to the mutual benefits of both countries. It is a truly free trade deal, with tariffs coming down to zero on key dairy products such as infant nutrition, cheese, milk powder and packaged milk.”
The ChAFTA places Australia on a more level playing field with key commercial rivals who already have a FTA with China, but in order to receive the benefits the deal must be ratified.
“The dairy industry is keen to see the agreement ratified this year to ensure the benefits start to reach both countries’ economies in this calendar year,” Mr Campbell said.
The ADIC thanked the Federal Government and the Department of Foreign Affairs and Trade for their continued efforts and engagement with dairy throughout the trade negotiations process, which was vital to securing a commercially meaningful deal for the industry.
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