Madeleine King (Brand, Australian Labor Party, Minister for Northern Australia) Share this | Hansard source

I thank the member for Hughes for his great question. I'm really proud to be representing in this place the finest trade minister this country has ever seen, Senator Don Farrell. Under Senator Farrell's leadership and that of the Prime Minister, this government has delivered economic benefits to Australian workers and families. Under the leadership of the trade minister and this Prime Minister, this government has removed $20 billion of trade impediments. We have signed an economic cooperation and trade agreement with India, FTAs with the United Kingdom and the United Arab Emirates, and, today, an FTA with the European Union.

All this confirms that Labor is the party of free, open and fair trade. After all, it was the Hawke government that lifted the tariff wall in this country and opened our economy up to fair trade. We lifted the tariff walls, we support fair trade, we support free trade, and we are building more and more connections every single day. I acknowledge the President of the European Commission, Ursula von der Leyen, and I echo her views that both continents share the same challenges and goals. We need to maximise our potential together, and through this EU FTA, we will do that.

This has been eight years in the making. It's a historic achievement achieved by this government. This European Union agreement combines us with the 27 member states—the second-largest economy in the world, with a population of over 450 million people and a GDP of $31 trillion in 2025. This free trade agreement between Australia and the EU means lower tariffs on imports from the European Union, including what's on shelves at grocery stores right around the nation. Lowering tariffs means more choices at lower prices to help ease cost-of-living pressures at supermarkets right around the country for all Australian families. Farmers and businesses will benefit from cheaper machinery, vehicles, parts and equipment that they source from the EU, and this will flow into households around the country. Importantly, this government has protected—

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