Farmers across Barker in the dairy, grains, red meat, wine and horticulture sectors will have their tariffs to Peru slashed following today’s historic signing of the Peru-Australia Free Trade Agreement (PAFTA).
Member for Barker Tony Pasin said PAFTA will eliminate 99.4 per cent of tariffs that exporters face into Peru, putting Australian farmers on equal footing with foreign competitors.
“This new trade deal is a huge win for farmers right across Barker, creating expanded export opportunities for our dairy, grains, red meat, wine and horticulture sectors,” Mr Pasin said.
“This is fantastic news, meaning better returns at the farm gate and more jobs across the supply chain thanks to this $435 million two-way trade with Peru.”
The key tariff outcomes for Australian agriculture through PAFTA will include;
PAFTA will provide a number of industries with duty-free access for large volumes of exports, including 7000 tonnes of dairy, growing to 10,000 tonnes (capped amount) in year five.
“PAFTA will allow us to better compete in the Peruvian market and supports the potential for expanded trade into the broader Latin American region,” Mr Pasin said.
The signing of PAFTA follows the finalisation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which will lock in greater trade access to markets worth almost $10 trillion combined, including Japan, Canada, Mexico, Malaysia, Singapore, Chile, Peru, Vietnam, New Zealand and Brunei.
For more on PAFTA, visit http://dfat.gov.au/trade/agreements/pafta/Pages/peru-australia-fta.aspx
Contact: 8724 7730