Ms Julie Bishop (Curtin, Liberal Party, Minister for Foreign Affairs) Share this | Hansard source

I thank the member for Moore for his question. From Western Australia to New South Wales, from the Northern Territory to Tasmania, this government has shown that every state and territory will benefit from the signing of a China-Australia Free Trade Agreement. On this side of the House, we have already informed colleagues opposite and, indeed, the Australian public of the benefits to the resources industry, the agriculture industry, the horticulture industry and the manufacturing sector in Western Australia, but there will also be benefits across the nation and, specifically, for our services industry.

This is a deal that will deliver for the people of Western Australia and the people of Australia. Competitors outside Australia understand this. They understand what the Labor Party here does not. There are advantages to us that our competitors are quite concerned about. New Zealand's Prime Minister, John Key, thinks that Australia should sign the free trade agreement despite it being against New Zealand's competitive interests. He said:

Having negotiated an agreement that is high quality, you’d like to grab it with both hands. New Zealand will be quite happy if you don’t.

In other words, John Key is saying they want to upgrade their own free trade agreement with China to get what we have got. The Leader of the Opposition does not understand this. New Zealand's own free trade agreement has already delivered benefits that are 11 times greater than the most optimistic commentators could come up with, yet the Leader of the Opposition wants to reject our agreement with China. China itself sees the benefits to Australia.

Ms Chesters interjecting—

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