Marise Payne (NSW, Liberal Party, Minister for Human Services) Share this | Hansard source

I thank Senator Whish-Wilson for his question. In fact, he has correctly observed that they are observations I have made in this chamber, that Minister Robb has made, that Mr Abbott has made and that a number of other enthusiastic supporters of the China-Australia Free Trade Agreement have also made. I think if you wanted to look more accurately at the industries and at examples in our region of the huge potential in this China-Australia Free Trade Agreement then you could go to the evidence provided by Prime Minister John Key from New Zealand, who has said:

I'm a massive proponent of free trade, and the benefits of our FTA have been 11 times greater than the most optimistic estimates. The numbers speak for themselves. Having negotiated an agreement that is high quality, you'd like to grab it with both hands. New Zealand will be quite happy to do it if you don't.

In fact, as I understand it, the New Zealand record shows a quintupling of the benefits that they were expecting under their free trade agreement.

You could also listen to the words of the dairy industry, who have said the free trade agreement will create 600 to 700 jobs in that industry in the first year alone. The Financial Services Council, which I have also referred to, said that the agreement would result in the creation of 10,000 new jobs by 2030 in the financial services sector alone. We have other examples, like New South Wales—