I thank the member for Spence for the question. I acknowledge his tireless advocacy for his community and particularly those great areas that produce our wine, our food and, of course, our manufacturing. Stronger international trade relations can drive investment, expand market access and create new opportunities. The Australia-EU free trade agreement is a significant opportunity to open new markets, back our producers and create more jobs, particularly in our regions. The agreement opens doors for Australian farmers and producers to markets that have been difficult to access for decades. We've been trying to get this done for a long time.

It means that exporters will benefit from the elimination of EU tariffs. Almost 94 per cent of Australian agricultural exports by value will enter the EU duty free when the agreement takes effect, increasing to almost 95 per cent after seven years. This means new opportunities for our beef, sheepmeat, dairy, grains, horticultural seafood and wine products. For my home state of Victoria, this will make a big difference to small and large businesses alike, from dairy producers in Gippsland and south-west Victoria to winegrowers, farmers and food manufacturers across our regions.