The Australian Dairy Industry Council (ADIC) has welcomed the Joint Standing Committee on Treaties (JSCOT) recommendation that Australia ratify the China-Australia Free Trade Agreement (ChAFTA) – an agreement that will deliver billions of dollars in additional export value to the Australian economy.
ADIC Chair, Noel Campbell said the deal recognises dairy as one of the nation’s export strongholds and must be ratified as soon as possible to open up markets for Australian dairy producers.
“This is a genuine free trade agreement that when implemented will set Australian dairy products on a path to full trade liberalisation into China,” Mr Campbell said.
“This means more jobs across the industry, both on farm and in processing plants. The flow- on effects of this growth would undoubtedly benefit the rural and regional communities where dairy plays an important role.”
Mr Campbell said that swiftly implementing the agreement will ensure Australia doesn’t fall further behind its competitors who already have a free trade agreement with China.
“Ratifying the agreement before the end of the year will mean that Australian dairy can take advantage of the tariff reduction timeline as of 1 January 2016. Any further delay in the parliamentary process will cost the Australian dairy industry up to $76 million in tariff savings for Australian origin product,” Mr Campbell explained.
“It’s vital that Australia acts quickly to seize the opportunity for early implementation of this agreement. We must get the ball rolling – every day of unnecessary delay holds Australia’s growth and prosperity back.”
Shona McPherson, Media Officer
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