RELATED: China link to strengthen state RELATED: China has close look at North's business potential TASMANIAN farmers say a looming free trade deal between Australia and China will be a significant step forward for a number of sectors, but not a panacea. Senior ministers from the two countries signed a "Declaration of Intent" on the bilateral agreement yesterday, after substantive negotiations concluded in Canberra. The deal is set to strip away a bevy of tariffs imposed on almost all Australian goods imported into China. A number of Tasmania's key export industries including dairy, seafood, wine and mining stand to benefit when the taxes are eventually abolished. China is already Tasmania's largest export destination, with about $600 million worth of the state's goods ending up in the country each year. Tasmanian Farmers and Graziers Association chief executive Jan Davis anticipates major benefits to flow for the state's horticulture, wine and dairy producers, but does not expect instant results. "It's a really positive development but still way too early to understand what the exact impacts and opportunities are," Ms Davis said. "And we need to remember that just because you've got an FTA doesn't mean you're guaranteed to seal any deals . . . what any future deals do look like is anyone's guess at this stage." State Growth Minister Matthew Groom said the government stood ready to seize on the agreement to guarantee benefits for the state. Tasmanian Liberal Senator Eric Abetz said the deal was unequivocally good news for Tasmania. "The China-Australia Free Trade Agreement means Tasmanian industry is well placed to expand its exports to China, attract growth-enhancing investment and create more jobs," he said. "The growth and changing consumption patterns in China favours exactly the sort of high-quality exports which Tasmania does best." But Australian Greens Senator Peter Whish-Wilson said the devil would be in the detail. "I have repeatedly cautioned everybody not to be suckered into the spin about what it will deliver," he said. "Treasury and the Productivity Commission have repeatedly advised that the potential benefits of the free trade agreements currently under negotiation have been oversold and the negatives largely ignored." The agreement will now be prepared in both languages before it is set in stone.
TASMANIAN farmers say a looming free trade deal between Australia and China will be a significant step forward for a number of sectors, but not a panacea.
Senior ministers from the two countries signed a "Declaration of Intent" on the bilateral agreement yesterday, after substantive negotiations concluded in Canberra.
The deal is set to strip away a bevy of tariffs imposed on almost all Australian goods imported into China.
A number of Tasmania's key export industries including dairy, seafood, wine and mining stand to benefit when the taxes are eventually abolished.
China is already Tasmania's largest export destination, with about $600 million worth of the state's goods ending up in the country each year.
Tasmanian Farmers and Graziers Association chief executive Jan Davis anticipates major benefits to flow for the state's horticulture, wine and dairy producers, but does not expect instant results.
"It's a really positive development but still way too early to understand what the exact impacts and opportunities are," Ms Davis said.
"And we need to remember that just because you've got an FTA doesn't mean you're guaranteed to seal any deals . . . what any future deals do look like is anyone's guess at this stage."
State Growth Minister Matthew Groom said the government stood ready to seize on the agreement to guarantee benefits for the state.
Tasmanian Liberal Senator Eric Abetz said the deal was unequivocally good news for Tasmania.
"The China-Australia Free Trade Agreement means Tasmanian industry is well placed to expand its exports to China, attract growth-enhancing investment and create more jobs," he said.
"The growth and changing consumption patterns in China favours exactly the sort of high-quality exports which Tasmania does best."
But Australian Greens Senator Peter Whish-Wilson said the devil would be in the detail.
"I have repeatedly cautioned everybody not to be suckered into the spin about what it will deliver," he said.
"Treasury and the Productivity Commission have repeatedly advised that the potential benefits of the free trade agreements currently under negotiation have been oversold and the negatives largely ignored."
The agreement will now be prepared in both languages before it is set in stone.
