Far North Queensland sugar growers are set to be the big winners after the signing today of the Peru-Australia Free Trade Agreement.
Federal Leichhardt MP Warren Entsch said the PAFTA would create new markets for Far North Queensland sugar growers who have previously been locked out.
He said the agreement opened the door to one of the fastest growing economies and regions in the world.
“The PAFTA will eliminate 99 per cent of tariffs on Australian goods and delivers historic access for Australian services,” Mr Entsch said.
“Peru is one of the fastest growing economies in the world and will provide enormous opportunity for Far North Queensland producers, particularly those in the sugar industry.
“An unprecedented 90,000 tonnes has been secured for Australian sugar, more than any other sugar exporting country has achieved into Peru in the last 20 years.
“This is equivalent to roughly 30 per cent of Peru’s total sugar import.”
Mr Entsch said Far North Queensland beef farmers would have tariff-free access within five years putting them on par with US beef farmers.
“Supermarkets in Peru are already asking about putting Aussie beef on their shelves,” he said.
“This deal is excellent news for beef and sugar producers in Far North Queensland and should be welcomed.”
Mr Entsch said the free-trade agreement would also create new opportunities for education providers such as James Cook University.
“Peru will recognise Australian degrees, helping Australian universities attract more Peruvian students to study in Australia,” he said.
“I have no doubt that Peruvian students will be lining up to study in Cairns, gateway to the iconic Great Barrier Reef.
“This PAFTA builds on the trade agreements the Coalition has delivered with China, Japan and Korea.
“The Turnbull Government is pursuing an ambitious trade agenda and more trade agreements to create more export opportunities for Far North Queensland businesses and producers.”
Media Contact: Adam Davies 0417 010 702