Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

Mr President, it is appropriate that a coalition senator from the state of Victoria should be asking this question, because Victoria is Australia's largest food and fibre exporting state and so it is particularly well placed to reap the benefits of this free trade agreement. China is Australia's most important agriculture market, with exports worth around $9,000 million and growing rapidly. The opportunities are massive. China is expected to account for nearly half of global growth in food demand to 2050.

This free trade agreement positions Australian farmers and exporters to take advantage of China's growth. It addresses our current competitive disadvantage in some products such as dairy, lamb and wine, with New Zealand and Chile, who have free trade agreements with China. It locks in an advantage on products such as a beef against the United States and Brazil. This is a great deal for Australian dairy, with all tariffs being eliminated. China's wine import market is growing dramatically—$1.6 billion worth in 2013. Of course, Senator, that will benefit the Yarra Valley in your home state of Victoria.

Under the agreement, the tariffs on beef exports to China, worth $722 million, will be eliminated. And similarly, all tariffs on horticultural products will be eliminated. Tariffs on hides, skins and leathers will be eliminated. The list goes on: barley tariffs will go, tariffs on live animal exports will go, tariffs on orange juice, honey, pasta, chocolate, canned tomatoes—you name it—will go. This is a great agreement for the state of Victoria and for our nation. (Time expired)