Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Ciccone for his important question and the wonderful work that he does each and every day for the great state of Victoria. Yes, I can answer that question, Senator Ciccone. Yesterday the Albanese Labor government announced the conclusion of a trade negotiation with the United Arab Emirates. It was an important day for Australia's international economic engagement.

The UAE is Australia's largest trade and investment partner in the Middle East, with two-way trade worth nearly $10 billion in 2023. It's a great deal for Australian exporters. Over 99 per cent of Australian produce will now enter the UAE tariff free. Under the deal, Australian exports to the UAE are expected to be higher by $678 million on an ongoing basis.

In particular, exports from Senator Ciccone's own state of Victoria will benefit significantly from the agreement. For example, Victoria's exports of agricultural products will benefit from the tariff elimination, putting hardworking Victorian farmers in pole position to compete in the UAE market and the region.