Farmers across the Electorate of Parkes in the dairy, grains and red meat sectors will have their tariffs to Peru slashed following the historic signing of the Peru-Australia Free Trade Agreement (PAFTA).
Federal Member for Parkes Mark Coulton said PAFTA will eliminate 99.4 per cent of tariffs that exporters face into Peru, putting Australian farmers on equal footing with foreign competitors.
“This new trade deal is a huge win for farmers right across the Electorate, creating expanded export opportunities for our dairy, grains, kangaroo meat and red meat sectors,” Mr Coulton said.
“The Pastoralists' Association of West Darling tells me that there are 12.5 million roos in western NSW.
“This Free Trade Agreement is good news for them. It’s a solution to a problem that is causing great environmental and economic damage.
“This is fantastic news, putting more cash in the pockets of for our hardworking farmers while building on our $435 million two-way trade with Peru.”
The key tariff outcomes for Australian agriculture through PAFTA will include;
• Immediate elimination of all tariffs for sheep meat, kangaroo meat, most horticulture products and wheat (current tariffs are up to 9 per cent).
• Elimination of all tariffs for beef within five years and immediate elimination of most tariffs for pork (current tariffs are up to 17 per cent).
PAFTA will provide a number of industries with duty-free access for large volumes of exports, including:
• 15,000 tonnes of sorghum, with the volume growing to 20,000 tonnes (capped amount) in year five.
“PAFTA will allow us to better compete in the Peruvian market and supports the potential for expanded trade into the broader Latin American region.
For more on PAFTA, visit http://dfat.gov.au/trade/agreements/pafta/Pages/peru-australia-fta.aspx