China FTA positive move for Australian agriculture

AUSTRALIA has signed an historic Free Trade Agreement with China in a move that will pave the way for lower tariffs and trade barriers for food and fibre producers.

This groundbreaking agreement signed by Australian prime minister Tony Abbott and Chinese president Xi Jinping in Canberra, will liberate more than 90% of Australia's exports under tariffs over the next four years.

Beef, dairy, horticultural and services exporters are some of the biggest winners in this bilateral deal.

In overview though Australian agricultural exporters will benefit from:

The removal of all tariffs on our dairy products (which have been as high as 20%) within four to 11 years.

The removal of tariffs of 12 to 25% on beef over nine years.

The removal of tariffs on live animal exports of 10% within four years.

The removal of tariffs on sheep meat of 12 to 23% over eight years.

The removal of tariffs of 14 to 20% on wine over four years.

The removal of tariffs on all horticulture products, ranging up to 30 per cent, most within four years.

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