George Christensen (Dawson, National Party) Share this | Link to this | Hansard source

My question is to the Minister for Trade. Will the minister update the House on the benefits of securing a free trade agreement with the United Kingdom for Australian industry and jobs?

Dan Tehan (Wannon, Liberal Party, Minister for Trade, Tourism and Investment) Share this | Link to this | Hansard source

I thank the member for Dawson for his question and the way he represents canegrowers in his electorate. I know they have spoken to him on many occasions, but since 1974 they haven't been able to get the access for sugar into the UK market they would have liked. I thank the member for his representation on behalf of those canegrowers in this place.

Fifty years ago the then trade minister, Doug Anthony, flew to the UK to attempt to maintain some of the special economic relationship Australia enjoyed with the UK. Britain had turned its attention to the European Common Market, and Australia felt that a special bond was being broken. Half a century on, Australia stands ready again to be a willing partner with the UK. We want to help the UK achieve their aim of Global Britain, like we want them to make sure they work with us to promote trade liberalisation, to be advocates for free trade right across the globe.

The UK is Australia's fifth-largest trading partner, with two-way goods and service valued at $36.6 billion, and the UK is Australia's second-largest investment partner. To give you a sense as to what happened 50 years ago and where we stand now, Australia's beef exports are limited to a post-Brexit UK import quota of just 3,761 tonnes at the moment. Australia's sheepmeat exports are limited to an annual UK quota of just 13,335 tonnes or 4.3 per cent of UK consumption. Our dairy producers are limited to an import quota that amounts to just 44 grams of cheese per person each year, when the average Briton consumes 125 grams of cheese per week.

British consumers are missing out on choosing high-quality, well-priced Australian products. What's more, they are missing out on eating the best lamb chops, the best steak in the world and washing it down with the best glass of Australian wine that you can imagine. Since we came to office we have finalised eight FTAs and we want to add to that list. Our share of trade covered by FTAs has grown from 26 per cent to 70 per cent, and we want to grow that to 75 per cent. We will have more to say on this in the coming hours, when the Prime Minister of Britain stands up with the Prime Minister of Australia.