Andrew Robb (Goldstein, Liberal Party, Minister for Trade and Investment) Share this | Hansard source

The government is working hard to ensure this agreement takes effect and enters into force later this year, because we will see a double whammy of tariff cuts for our exporters—one before the end of the year and one in the first week of January 2016. This will result in, literally, hundreds of millions of dollars of extra benefit to businesses across Australia.

If the FTA is delayed beyond this year or worse, the cost will be absolutely enormous. The NFF advises that delay will cost rural communities about $300 million next year alone. Upon failure to ratify, the red-meat industry will see a cost of $100 million; dairy, $80 million; wine, $50 million; and grains, more than $43 million.

Mr Conroy interjecting—

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