The landmark China-Australia Free Trade Agreement (ChAFTA) continues to deliver benefits for Australia two years after its entry into force.
Nationals Member for Cowper, Luke Hartsuyker, said the historic agreement has given businesses on the Mid North Coast unprecedented access to the China market.
“China is Australia’s largest trading partner and ChAFTA gives Mid North Coast exporters access to a major economic player with a growing middle class,” Mr Hartsuyker said.
“It has enabled Mid North Coast exporters to sell local goods to China—creating jobs growth and boosting the local economy.”
Mr Hartsuyker said businesses who are exporting wine, like Cassegrain Wines in Port Macquarie, have benefited under ChAFTA.
“In the nine months to September 2017, exports of bottled wine grew 61.3 per cent to a value of $498 million compared with the same period in 2016.”
Mr Hartsuyker also said a fourth round of wide-ranging tariff cuts will also come into effect on 1 January 2018.
“A further 5,000 Chinese tariffs will be cut, meaning Mid North Coast export businesses will get another boost.
“Every year, those tariffs will be cut again for Australia until they reach zero, building on the competitive edge ChAFTA currently provides for exporters.
“Australia’s goods and services exports to China rose 25 per cent in 2016–17 to a record $110 billion.
“The Coalition Government is creating more jobs and export opportunities for Mid North Coast in pursuing the most ambitious trade agenda in Australia’s history.”