Mitch Fifield (Victoria, Liberal Party, Manager of Government Business in the Senate) Share this | Hansard source

I thank Senator Smith for his question. As colleagues know, the government's free-trade agenda has been turbocharged by the nation's best ever trade minister in Andrew Robb. These trade agreements offer significant benefits for our digital industries.

The Trans-Pacific Partnership Agreement recognises that telecommunications is a significant means for service delivery and a critical enabler of international trade, including for small and medium enterprises. The TPP will eliminate over 98 per cent of tariffs in the transpacific region, removing import taxes on around $9 billion of Australian trade. Last year one-third of Australia's total goods and services exports, worth $109 billion, were sent to TPP countries. This agreement opens up a raft of opportunities for digital industries, for the information technology sector and importantly for our start-up sector to embrace the market of our region with open arms. This will only build upon the significant benefits that will come from the China free trade agreement and from the free trade agreements with Korea and Japan.

The TPP includes state-of-the-art e-commerce provisions, which will help drive the information economy and facilitate trade among TPP parties. For example, TPP parties have committed to allow the movement and storage of data across borders providing an exciting platform for growth in Australian ICT exports. Obviously the TPP is a great deal for agriculture and a great deal for services. Importantly, we should also recognise it is a great deal for our digital industries.