TPP UNDERPINS JOBS AND GROWTH
The Australian Food and Grocery Council (AFGC) has welcomed the signing of the Trans Pacific Partnership (TPP) agreement in Auckland today. The TPP will underpin the future growth of Australia’s $118 billion food and grocery sector, which employs 300,000 Australians.
The signing of the TPP will begin parliamentary review processes in all TPP member countries, including Australia. The Parliamentary review process gives all interested Australians the opportunity to review, analyse and debate the real and perceived implications of the agreement for Australia.
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.
“In 2014-15, Australia’s food and beverages exports were up 28 per cent on the previous year with much of this growth underpinned by exports to the United States. The TPP will build on Australia’s existing trade agreements to provide new opportunities for Australian exporters”.
“At a time when Australia’s economic growth is under pressure we cannot afford to put a handbrake on one of the few shining lights, the agri-food sector. With turnover, employment and exports increasing in the sector, now is the time to build on our advantage”.
“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, providing Australian jobs and economic growth”.
“The Parliamentary process for reviewing international trade agreements will provide an opportunity to review the TPP agreement in great detail. At the forefront of that review must be the promotion of jobs, investment and growth for Australia’s economic prosperity,” said Mr Dawson.
AFGC Media Contact: James Mathews 0407 416 002