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

I was asked why it was so important for our economy that the China deal enters into force. If Australia plays its cards correctly, the next 30 years can literally be spectacular—setting up for growth and prosperity throughout the century and beyond.

I can say to my colleague who asked the question, northern Australia can also be a big part of that success. And the reason is, according to the OECD, a surging middle class in the region around us will see 600 million people today class grow to three billion people, not in 100 years, not in 50 years, but in the next 35 years. It is hanging there as a major prospect of prosperity and growth for all of us over the next 30 years.

The transformation is happening now. Last year 100 million Chinese left China for a holiday, and a million came to Australia. China expects 200 million people by 2020—again, just five years away—to leave China for a holiday. The transformation in the region is well underway, and the coalition has seen, unlike those opposite, that these three free trade export agreements with Korea, Japan and China—and, ultimately, with India—are a major bridge to the extraordinary opportunities that are emerging on our doorstep. They are a crucial part of the government's plan to diversify our economy post the mining boom.

And the plan is working. We have seen—

Opposition members interjecting—

if you listen you'll find out—with Korea and Japan, in the six months since we entered into force those agreements, food and beverage exports to these countries have increased by 22 per cent and eight per cent respectively. At the same time, exports in those two categories out of China stalled to zero. Now, that just shows the great capacity of these agreements to increase the wealth and prosperity of all Australians in a most material way, but you have to put in place the structures. These agreements are the structures to make that …(Time expired)

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