New Year brings new opportunities for Hinkler exporters
The New Year has created new opportunities for Hinkler exporters with the Coalition’s landmark trade agreements delivering extensive tariff cuts.
Member for Hinkler and Assistant Minister for Trade, Tourism and Investment Keith Pitt said further tariff cuts on more than 7000 Australian products have come into effect, creating more export opportunities for local businesses.
“These wide-ranging tariff cuts are part of Australia’s Free Trade Agreements with China and Korea, which are continuing to deliver a competitive advantage for Hinkler businesses,” he said.
Mr Pitt said the tariff for macadamias (shelled) was 30 per cent before KAFTA, was cut to 12 per cent and now has been cut further to 6 per cent.
“This is giving local businesses an extra competitive advantage which will drive exports and help create more local jobs,” he said.
Almost $10 million worth of macadamias were exported to Korea between January and September 2016, with Australian exports tripling on two years earlier.
“The Coalition Government will continue to pursue an ambitious free trade agenda and agreements like ChAFTA and KAFTA to fuel our economy and create more local jobs,” said Mr Pitt.
“These trade agreements have put local exporters in pole position to capitalise on Asia’s growing middle class and their increasing demand for the high quality goods and services Australia offers,” he said.
Hinkler businesses looking to take advantage of Australia’s free trade agreements can find out more about the tariffs that apply to their exports at the FTA Portal: ftaportal.dfat.gov.au.