FARMERS in Barker will benefit from the revised Trans-Pacific trade deal, Member for Barker Tony Pasin says.
Beef, sheep, dairy, wine, horticulture, seafood, cereal and grain commodities are all set to see better prices flow to the farmgate by making these products more competitive in Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) countries.
The agreement will deliver 18 new free trade agreements between partnership countries, with Australia benefiting from new trade agreements with Canada and Mexico.
Further, the partnership opens greater market access to Japan, Chile, Singapore, Malaysia, Vietnam and Brunei.
Mr Pasin said the CPTPP was a multi-billion dollar win for jobs, businesses, farmers and consumers in Barker.
“This agreement is nothing but fantastic news for Barker,” he said.
“More trade means more export opportunities for local businesses, and that means more Australian jobs.
“Australia already exports $12.3b of agricultural products to CPTPP countries, and this deal will speed up growth in the Pacific region.
“For Barker this deal will see additional benefits for beef, cheese, sheep, wine, horticulture and many other industries.
“The Coalition Government is creating more jobs and export opportunities for Barker in pursuing the most ambitious trade agenda in Australia’s history and I make no apologies for that.”
The first incarnation of the partnership was signed by the United States, Australia, New Zealand, Japan and eight Pacific Rim countries in 2016 but was not ratified.
Following the withdrawal of the United States, negotiations began on the new trade agreement between Australia and the remaining countries.
Mr Pasin said Australia took a leadership role in the negotiations because it would drive Australian exports and create new Australian jobs.
The agreement will eliminate more than 98pc of tarriffs in a trade zone with a combined gross domestic product of $13.7t.
Trade ministers in participating countries are expected to sign the CPTPP on March 8 in Chile.
