Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Hansard source

I thank Senator Paterson for his question and for his interest in free trade. He is a convinced free-trader. We need more of them in this place! From the day we took office in 2013 the government has worked hard to gain preferential market access with our largest trading partners to benefit Australian businesses. At their core, the free trade agreements are designed to open up new markets or make us more competitive in the existing ones.

Exports have played a crucial role in Australia's 25 years record of unbroken economic growth and the Liberal-National coalition's free trade agreements have ensured our exports continue to grow. The Japan-Australia Economic Partnership Agreement has provided real benefit for a lot of great Australian businesses who will now have preferential market access secured under the Japan agreement and has taken our relationship with Japan to a new level.

The China-Australia Free Trade Agreement tells a similar story for Australian businesses, with entire industries increasing their exports by 200 per cent. In the first six months of the China agreement coming into force we have seen lobster and crayfish exports up 218 per cent, milk powder up 196 per cent, mangoes up 165 per cent, fresh grapes up 118 per cent and fresh cherries up 127 per cent. It sounds like a day at the markets!

The benefits of the China-Australia Free Trade Agreement are undeniable. And that is not to mention the Korea-Australia Free Trade Agreement, which covers more than $34 billion of trade annually between our two nations, and this number is set to grow with tariffs to come off 99.8 per cent of all Australian exports to Korea, Senator Sterle. The coalition government has a proud record when it comes to free trade.