Assistant Minister for Trade, Tourism and Investment Keith Pitt will host a free seminar in Cairns on Tuesday, 21 November, to help local businesses access the benefits of Australia’s Free Trade Agreements (FTAs) with North Asia.
“A whole range of Australian products now receive preferential access to more than a billion potential customers in China, Japan and Korea thanks to provisions negotiated by the Australian Government,” Mr Pitt said.
China, Japan and Korea are key export markets for Queensland, accounting for more than half of all the State’s goods exports.
“This region is well known for its strong agriculture and manufacturing industries which are well placed to gain a significant competitive edge through our three North Asia FTAs – the China-Australia Free Trade Agreement (ChAFTA), Japan-Australia Economic Partnership Agreement (JAEPA) and Korea-Australia Free Trade Agreement (KAFTA),” Mr Pitt added.
“We’re running seminars like this one across the county to help businesses understand the new export opportunities and how to access them.”
The North Asia FTAs have delivered substantial benefits for many Australian exporters and continue to open up new export opportunities:
• Australia exported more than $2.8 billion worth of manufactured goods to China in 2016.
• Over 99% of Australia’s goods exports to Korea will benefit from duty-free access (by preferential quotas) on full implementation of KAFTA.
• Under JAEPA, 99.7% of Australia’s exports of resources, energy and manufacturing products to Japan enter duty-free.
• The tariff on Australian coking coal exports to China was 3% prior to ChAFTA. Upon entry into force, this tariff was eliminated.
The Federal Member for Leichhardt, Warren Entsch has urged local operators to attend to find out the latest on opportunities the FTAs could open up for their business.
“The Australian Government recognises creating new and significant export opportunities for local businesses means more exports and jobs,” Mr Entsch said.
“The Government is pursuing the most ambitious trade agenda in Australia’s history to open up more opportunities for businesses across this region.”
Other officials from the Australian Government who will give practical advice on exporting at the FTA seminar include Amanda Hodges, Austrade’s Minister Counsellor and Senior Trade and Investment Commissioner in Seoul; Sally Phillips, Manager of Austrade’s Free Trade Agreements Program; Lachlan Crews, from the Department of Foreign Affairs and Trade FTA Division; Trent Scott, Austrade Export Adviser, TradeStart; and representatives from AusIndustry.
The Free Trade Agreements Information Seminar will be held at the Hilton Hotel, 34 Esplanade, Cairns 9am – 11.30am, 21 November 2017.
Interested businesses can register to attend at austrade.gov.au/ftaseminars or find out more information by calling Austrade on 13 28 78 or emailing fta@austrade.gov.au
