Free Trade Agreement a windfall for Hinkler
Federal Member for Hinkler Keith Pitt has welcomed the successful negotiation of a Free Trade Agreement (FTA) between the Australian and Korean Governments, which will benefit the region’s sugar, horticulture and seafood exporters.
Mr Pitt said the Coalition Government this week reached agreement with the Republic of Korea.
The Agreement will be signed and come into operation following domestic approval process in Australia and Korea.
“Korea is already Australia’s biggest export market for sugar,” Mr Pitt said.
“Under the FTA, tariffs will be immediately eliminated on key Australian agricultural exports like sugar, mangoes and macadamias.
“Agricultural exports to Korea will be 73 per cent higher in 2030 than they otherwise would have been in the absence of this FTA.
“This Agreement shows the Coalition is committed to creating opportunities in regional communities and recognises agriculture as one of Australia’s economic strengths.
“The Coalition is making it easier, not harder, to do business in Australia.
“Reducing the cost of doing business by fostering strong relationships with our major trading partners will give businesses the confidence they need to create jobs.
“Today’s announcement is a significant windfall for our region.”
Media contact: Larine Statham 0427 653 814