The landmark China-Australia Free Trade Agreement (ChAFTA) continues to deliver benefits for Australia two years after its entry into force.
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Nationals Member for Cowper, Luke Hartsuyker, said the historic agreement has given businesses on the Mid-North Coast unprecedented access to the China market.
“China is Australia’s largest trading partner and ChAFTA gives Mid North Coast exporters access to a major economic player with a growing middle class,” Mr Hartsuyker said.
“It has enabled Mid-North Coast exporters to sell local goods to China, creating more job growth and boosting the local economy.”
Mr Hartsuyker said a fourth round of wide-ranging tariff cuts came into effect on 1 January 2018.
“A further 5,000 Chinese tariffs have been cut, meaning export businesses on the Mid North Coast will get another boost,” Mr Hartsuyker.
“Every year, those tariffs will be cut again for Australia until they reach zero, building on the competitive edge ChAFTA currently provides for local exporters.
“Australia’s goods and services exports to China rose 25 per cent in 2016-17 to a record $110 billion.
“The Coalition government is creating more jobs and export opportunities for the Mid-North Coast by pursuing the most ambitious trade agenda in Australia’s history.”