TPP will Boost Food Exports
The Australian Food and Grocery Council (AFGC) has welcomed the release of the text of the Trans Pacific Partnership agreement as an important step in the finalisation of a significant trade deal for Australia’s $118 billion Food and Grocery sector.
AFGC CEO Gary Dawson said the TPP agreement, covering 12 nations that together constitute 40% of the global economy, would bring significant benefits for Australia’s food and grocery sector.
“This regional trade agreement will further open up some of Australia’s key export markets, particularly in the food, beverage and grocery sectors. The TPP builds on earlier trade agreements including with the United States, Japan, Malaysia and Singapore”, said Mr Dawson.
“The recently released AFGC State of the Industry report highlights the importance of exports to the Australian food, beverage and grocery manufacturing sector. In 2014-15, Australia’s food and beverages exports were up 28 per cent on the previous year.”
“Much of this growth was underpinned by exports to the United States and the TPP will build on Australia’s existing trade agreements to provide new opportunities for Australian exporters.”
“The TPP covers 12 nations that together constitute 40% of the global economy, and 5 of Australia’s top 10 export markets for food and beverages. The economic weight of the TPP and common set of rules established among 12 countries will greatly support Australian food exporters’ participation in regional and global supply chains.”
“The significance of the TPP can be best illustrated by the intent of Indonesia and Korea to join the agreement. Both countries have recognised the importance of the TPP and the opportunities it presents. Australia needs to remain at the forefront of trade liberalisation efforts to support Australian jobs, livelihoods and economic growth”.
“The Government, and Trade Minister Andrew Robb MP, are to be applauded for pursuing trade liberalisation and integrating the Australian economy into the global marketplace for the ultimate benefit of all Australians,” said Mr Dawson.
AFGC Media Contact: James Mathews 0407 416 002