Natasha Griggs (Solomon, Country Liberal Party) Share this | Hansard source

Of course! Yes, I acknowledge, also in South Australia. Just a few months ago I represented the Deputy Prime Minister at a ceremony to mark the fast tracking of a $1.45 billion aquaculture investment in the Northern Territory. Aquaculture requires huge investments and a large capital outlay and involves ongoing costs. To make those sorts of investments, businesses need confidence, and that is exactly what ChAFTA will bring—the assurance of access on reasonable terms to the world's largest single market.

Just outside my electorate of Solomon is the Humpty Doo Barramundi farm. A decade ago the farm was producing a very respectable tonne of barramundi each week. By investing heavily in the operations and adopting world's best practice techniques, this enterprise is now producing 1,500 tonnes a year. By my calculations, that is a 29-fold increase over the course of a decade. This is one example of what Territorians can achieve.

For the Northern Territory, all the pieces are falling into place. We have a federal government absolutely committed to realising the economic potential of north Australia, setting aside billions for nation-building infrastructure across the tropics. We already have free trade deals with many significant markets in Asia. Federally, and in the Territory, we have sensible economic policies in place, boosting business confidence. Private sector investors are already moving in. All these factors are combining to create a snowball of investment, jobs and growth. The final and one of the biggest pieces yet to be locked down is the China free trade agreement. Once that agreement is in place, the sky is the limit for north Australia and, indeed, for the rest of the country—because, as we have heard before, if north Australia is doing well, the rest of the country is prospering.

See this speech in context