Marise Payne (NSW, Liberal Party, Minister for Human Services) Share this | Hansard source

This is a very important supplementary question from Senator McGrath because it enables us to focus on the fact that ChAFTA completes an historic trifecta of trade agreements with our top three export markets, which account for more than 55 per cent of Australia's total goods and services exports. Together, these agreements will enhance our vital trade and investment relationships in the region, they will assist the process of reform and they will foster greater prosperity. Our free trade agreements with Korea and Japan are only months old, and we are already seeing increased exports compared to just a year ago. For example, there has been a 26 per cent increase in frozen beef prime cuts to Korea and, extraordinarily, a massive 84 per cent increase in the same product, frozen beef prime cuts, to Japan. Macadamia exports to Korea have more than doubled, and Japan is importing 82 per cent more of our rolled and flaked oats. (Time expired)