Durack Primary Producers and Mining Services Companies Win in New Free Trade Agreement
February 12, 2018
Australia and Peru have signed the Peru-Australia Free Trade Agreement (PAFTA), opening the door for Western Australian exports to one of the fastest growing economies and regions in the world.
Member for Durack Melissa Price said PAFTA will eliminate tariffs on 99 per cent of Australian goods and delivers historic access for Australian services.
“Peru is one of the fastest growing economies in the world - this agreement gives W.A businesses the opportunity to share in the growth," Ms Price said.
"It will help create new local jobs and drive economic growth as it delivers huge wins for exporters,”
Ms Price said the elimination of tariffs will help Durack Farmers, from the Wheatbelt to Kununurra, who have effectively been shut out of the market until now.
"Our farmers for the first time will have preferential access as PAFTA brings tariffs down and levels the playing field” Ms Price said.
“Our beef farmers will 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.
“This is wonderful news for our beef industry, and will mean greater demand for our cattle.”
PAFTA also delivers greater access for Australian mining companies, as the agreement guarantees access for mining-related services, an industry in which Durack is one of the Australian leaders.
Ms Price said PAFTA builds on the trade agreements the Coalition has delivered with China, Japan and Korea.
“The Federal Government is pursuing an ambitious trade agenda and more trade agreements to create more export opportunities for businesses.”