Michelle Landry (Capricornia, National Party) Share this | Link to this | Hansard source

My question is to the Minister for Trade and Investment. Will the minister advise the House how the Australia-China free-trade agreement has been received by industry and others?

Andrew Robb (Goldstein, Liberal Party, Minister for Trade and Investment) Share this | Link to this | Hansard source

I thank the member for her question. The member has proven herself to be a very strong advocate for the meat and livestock sector, representing as she does the beef capital of Australia in Rocky in Central Queensland. I can report that this sector alone has estimated that the red meat and livestock industries will benefit by an extra $11 billion through to 2030 following the total elimination of tariffs.

This was reinforced by the new chairman of the Australian Livestock Exporters Council, Simon Crean. Simon said:

As a former Australian Trade Minister engaged in the negotiations for several years, I wholeheartedly welcome the agreement and congratulate the Government…

He went on:

I particularly welcome the comprehensive nature of the agreement, the inclusion of the services sector and the tariff free access gained by the red meat sector which is a huge win for producers and exporters.

Some other endorsements included the Business Council of Australia. They said:

The agreement opens an unprecedented level of access for our key sectors into Chinese markets, builds on Australia’s existing strengths and opens new avenues for growth and job creation.

The NFF said:

The agreement is an outstanding achievement. We could conceivably see a tripling in agricultural exports to China within the decade.

The Financial Services Council of Australia said:

The agreement builds the architecture Australia needs to export financial services in the Asian century.

The Australian Food and Grocery Council said:

The agreement enables Australia to play to its strengths in international trade to secure maximum value for high value-add exports as well as commodities.

The Winemakers' Federation of Australia said:

A much-awaited free trade agreement with China seals this year’s trade trifecta and has the potential to add tens of millions of dollars to the Australian wine industry’s export earnings.

This trifecta of the trade agreements with Korea, Japan and China will transform our economy as it echoes down through the coming decades, just as the floating of the dollar unleashed a freeing up of so much of our economy over 30 years ago. These agreements provide the bridges for the economic miracle that the Treasurer spoke of and that is unfolding in our region: the explosion of the Asia-Pacific middle-class and the enormous opportunities it presents.

Perhaps, I should leave the last word—as always—to Kevin Rudd.

Opposition Members:

Opposition members interjecting—

Andrew Robb (Goldstein, Liberal Party, Minister for Trade and Investment) Share this | Link to this | Hansard source

Those opposite do not want to hear it, but I will give it to them:

If you look at the whole package; on the trade side, the investment side, I think this is genuinely a win-win for both sides.