Tariff cuts to boost local exporters success in Asian market
NEW tariff cuts will provide increased opportunities for a further 1200 local exporters and their products throughout the Asian Market.
The reductions were implemented at the beginning of the month under the Federal Government’s Japan-Australia Economic Partnership Agreement.
Federal Member for Cowper, Luke Hartsuyker said the benefits of the new cuts will extend upon those implemented last year.
"North Coast wine producers, beef, nut and grape growers are already benefiting from tariff cuts which came into effect last year and we’ve already seen results with an increase nationally in exports of these products," Mr Hartsuyker said.
"Japan is the world's biggest meat importer, taking 22% of Australia's beef exports, and is Australia's single biggest market for grain-fed beef, so this is great news for our farmers,
"We now have 92% of Australian products entering Japan duty-free. This will increase each year until 2034, when 98 per cent of our goods will enter duty free or receive Australia-only preferential access," Mr Hartsuyker said.
M,r Harsuyker said the Japan-Australia Economic Partnership Agreement coupled with Free Trade Agreements in major North Asia economies are creating local opportunities for businesses to prosper.
"The agreements with the economic powerhouses of Korea, Japan and China are opening doors to millions more customers for North Coast businesses by lowering their cost making them more competitive in the Asian market," Mr Hartsuyker said.
"This won’t just drive opportunities for big companies; it will help open doors for medium and small business businesses too.
"I want to see North Coast businesses join companies such as Norco at Raleigh in taking advantage of the Free Trade Agreements to boost jobs and growth locally," Mr Hartsuyker said.
The Coalition Government has launched a new FTA Portal to help small and medium businesses take advantage of the Free Trade Agreements.
To find out more, visit the FTA website.