Trade bonus

Campaspe News - - NEWS -

THE Mur­ray re­gion is ben­e­fit­ing from Aus­tralia’s free trade agree­ment with China, ac­cord­ing to lo­cal Fed­eral MP Damian Drum.

Tues­day marked the first an­niver­sary of the ground­break­ing China-Aus­tralia Free Trade Agree­ment (ChAFTA), which Mr Drum said had given Mur­ray busi­nesses a com­pet­i­tive ad­van­tage which is driv­ing ex­ports and cre­at­ing new jobs.

‘‘ChAFTA is the most favourable trade deal China has ever done with a de­vel­oped econ­omy,’’ he said.

‘‘It has put our ex­porters in pole po­si­tion to cap­i­talise on China’s grow­ing mid­dle class and their in­creas­ing de­mand for the high qual­ity goods and ser­vices we of­fer.’’

Mr Drum said busi­nesses ex­port­ing milk pow­ders and bot­tled wine had been big win­ners from the deal.

In the first three quar­ters of 2016, as tar­iffs on milk pow­ders and bot­tled wine were cut, their ex­port value to China in­creased sig­nif­i­cantly.

Mr Drum said an­other round of cuts would be on Jan­uary 1. ‘‘Ev­ery year, those tar­iffs will be cut again for Aus­tralia un­til they reach zero, build­ing on the com­pet­i­tive edge ChAFTA is al­ready pro­vid­ing for Mur­ray ex­porters.

‘‘ChAFTA is un­lock­ing ex­cit­ing pos­si­bil­i­ties to our largest ex­port mar­ket.’’

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