George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Hansard source

Yes, I can, and, yes, I will. Last week, the Prime Minister and the Minister for Trade, Tourism and Investment announced the conclusion of the Peru-Australia Free Trade Agreement negotiations in Vietnam.

This important agreement, known as PAFTA, marks the beginning of a new chapter in relations between Australia and Latin America. It provides Australian exporters, particularly in agriculture, mining and services, with outstanding access to one of the fastest-growing economies in the world. Last year, Peru imported US$4.6 billion of agricultural goods; however, Australia only exported $5.3 million worth of agricultural goods to Peru because of tariff barriers and preferential access for our competitors. The Peru-Australia Free Trade Agreement will help Australian farmers gain a much greater share of that multibillion dollar market.