FARMERS across Barker in the dairy, grains, red meat, wine and horticulture sectors will have their tariffs to Peru slashed following this week’s historic signing of the Peru-Australia Free Trade Agreement (PAFTA).
Member for Barker Tony Pasin said PAFTA will eliminate 99.4pc of tariffs that exporters face into Peru, putting Australian farmers on equal footing with foreign competitors.
“This new trade deal is a huge win for farmers right across Barker, creating expanded export opportunities for our dairy, grains, red meat, wine and horticulture sectors,” he said.
“This is fantastic news, meaning better returns at the farm gate and more jobs across the supply chain thanks to this $435m two-way trade with Peru.”
PAFTA will provide a number of industries with duty-free access for large volumes of exports, including 7000 tonnes of dairy, growing to 10,000 tonnes in year five.
“PAFTA will allow us to better compete in the Peruvian market and supports the potential for expanded trade into the broader Latin American region,” Mr Pasin said.
The signing of PAFTA follows the finalisation of the Comprehensive and Progressive Agreement for TransPacific Partnership, which will locke in greater trade access to markets worth almost $10t combined, including Japan, Canada, Mexico, Malaysia, Singapore, Chile, Peru, Vietnam, New Zealand and Brunei.
