In a huge boost to Australian agriculture’s goal of achieving $100 billion in farmgate value by 2030, Federal Minister for Agriculture David Littleproud has announced tariff cuts and improved market access on a variety of commodities traded across several countries including Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Vietnam.
Minister Littleproud said the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and other Free Trade Agreements (FTAs) forged by the Australian Government were delivering for our agricultural, food and fisheries exporters.
“The broad range of export markets under these FTAs, along with these continued improvements with tariff reductions, will help to stimulate growth and investment, diversifying our export trade and recover from the COVID-19 pandemic,” he said.
“The total value of Australia’s exports to CPTPP economies for agricultural and food commodities was $8.4 billion in 2019-20.
“The CPTPP delivered immediate as well as ongoing tariff reductions to enhance market access across the Americas and Asia. It covers many of Australia’s key agricultural and food export commodities, including wine, beef, dairy, wheat and sugar.”