FARMERS have welcomed the Trans Pacific Partnership’s signing concluding five-years of talks.
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NSW Farmers president Derek Schoen, who runs a mixed farm at Corowa, said while the announcement was good news for the rural sector there was no room for complacency.
“Anything that increases our exposure to competitive markets is a benefit to farmers,” Mr Schoen said.
“We have to be mindful that tariffs reduce for everyone so we can’t let our guard down and think this is good just for Australia.”
Mr Schoen was disappointed the United States “has been the least aggressive” in reducing their tariffs but acknowledged most other countries embraced the plan.
Anything that increases our exposure to competitive markets is a benefit
- Derek Schoen
NSW Nationals MP Michael McCormack said the TPP deal would benefit many commodities produced in his Riverina electorate.
“Barley, beef, dairy, rice, wheat and wine are all key commodities which will have tariffs reduced and access to new markets under the TPP deal and this is all beneficial for Riverina producers,” he said.
“The Riverina is a vast agricultural region and there are a number of new opportunities for local farmers to increase their production and exports to new markets.
“The government understands the importance of ensuring our farmers have the best opportunities to sell their food and fibre, which is the envy of the world, to markets across the globe.
“This deal also sees a reduction in the duties on paper and paperboard, which could potentially lead to a boost for Australian exporters – particularly Visy.”
Independent Senator Nick Xenophon said it was a dud deal for other sectors and it would allow foreign firms to sue Australian governments if their bottom line suffered.
A third of Australia’s goods and services exports ($109 billion) were sent to TPP countries - Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, the US and Vietnam – last year.
