China might be waging a trade war on Australia but the Federal Government is talking up the benefits of tariff cuts now coming into effect with other countries.
China might be waging a trade war on Australia but the Federal Government is talking up the benefits of tariff cuts now coming into effect with other countries.

Primary producers to gain from higher exports

CHINA might be waging a trade war on Australia, but the federal government is talking up the benefits of tariff cuts now coming into effect with other countries.

Minister for Agriculture David Littleproud says 2021 will be a huge opportunity for our agricultural, food and fisheries exporters, with tariff reductions boosting the sector's aim of achieving $100bn in farmgate value by 2030.

Mr Littleproud said more than 99 per cent of Australian goods exported to Indonesia now entered duty free or under improved and preferential arrangements under the Indonesia-Australia Comprehensive Economic Partnership Agreement.

Also, from January 1, tariff rate quotas would increase for live cattle, feed grain and citrus exports to Indonesia. The live cattle quota goes from 575,000 to 598,000 head.

In other markets, tariffs on lamb and beef to Korea, some wine products and barley to Mexico and refined sugar to Canada will all fall in 2021, while exporters to Peru will benefit from tariff cuts on beef and sparkling wine as well as increased quotas for rice, dairy, sugar and sorghum.

On January 14, remaining tariffs for seafood exports to Vietnam will continue to drop to around 8 per cent, ahead of their elimination on January 14, 2022.

Cattle is entering a livestock carrier at East Arm Wharf in Darwin. Picture: Keri Megelus
Cattle is entering a livestock carrier at East Arm Wharf in Darwin. Picture: Keri Megelus

"The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and other free trade agreements forged by the Australian government are delivering for our agricultural, food and fisheries exporters." Mr Littleproud said. "Korea is Australia's fourth largest agricultural partner, and Indonesia our fifth largest - the FTAs we have with these nations alone are worth billions to Australian farmers, creating jobs and supporting rural and regional communities."

Mr Littleproud said the broad range of export markets under the FTAs, along with continued tariff reductions, would help to stimulate growth and investment, diversify our export trade and aid recovery from the COVID-19 pandemic.

"The total value of Australia's exports to CPTPP economies for agricultural and food commodities was $8.4bn in 2019-20," Mr Littleproud said.

The CPTPP delivered immediate as well as ongoing tariff reductions to enhance market access across the Americas and Asia, Mr Littleproud said.

Originally published as Primary producers to gain from higher exports



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