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

I rise today in this adjournment debate to add to the discussion regarding the China-Australia Free Trade Agreement or ChAFTA as we like to call it. I have particularly enjoyed question time over the last few weeks, when many of the exaggerations and, in some cases, outright lies surrounding this agreement have been tested in parliament. Questions have been asked, but the answers are very straightforward. A lot of people who have heard what the unions and their puppets on the frontbench of the Labor Party have been saying have had many of their fears put to ease. I will talk today about some of the benefits ChAFTA will bring, particularly to the Northern Territory.

As you know, seafood is a big industry in the Top End so I was keen to know about the seafood industry and what they thought about ChAFTA and what the bearing of the agreement would have on their industry. It may surprise some of my fellow members of the House, particularly those opposite that like most major industries the seafood sector is a big supporter of the China-Australia Free Trade Agreement.

I refer to a press release issued by the National Seafood Industry Alliance. It is titled 'ChAFTA represents jobs and growth'. The title alone probably sums up the sentiment of the document but let me share some of the detail with you.

The media release goes on to say:

That brings me very nicely to the topic of aquaculture, which is a booming industry in North Australia.

Matt Williams (Hindmarsh, Liberal Party) Share this | Link to this | Hansard source

Hear, hear! All over Australia.

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

All over Australia, but particularly in North Australia.

Matt Williams (Hindmarsh, Liberal Party) Share this | Link to this | Hansard source

And South Australia!

Natasha Griggs (Solomon, Country Liberal Party) Share this | Link to 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.