Free trade opens market

 

THE recent South East Asian free trade deal will give Australia greater access to the world’s third largest global market and Queensland’s wine, beef, dairy and horticulture industries are set to reap the benefits.
But fully comprehensive bilateral agreements will still remain a ‘Holy Grail’ for some industries.
The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) signing in Thailand has been welcomed by Queensland business, but the Chamber of Commerce and Industry Queensland (CCIQ) has called for non-exclusionist bilateral agreements.
CCIQ president Beatrice Booth says the agreement is not comprehensive and inclusive for all industry, but while some of the benefits will be watered down it is still a positive step overall.
“The 10 members that make up the Association of South East Asian Nations have an estimated combined GDP of $3.2 trillion - this opens the door for many Queensland businesses,” says Booth.
“Significant opportunities exist for Queensland under AANZFTA in the mineral, agribusiness, pharmaceutical products, chemicals, education and financial services sectors. Queensland’s wine, beef, dairy and horticulture industries should specifically realise benefits from the agreement.”
The deal comes as other nations and potential competitors, including the EU and China, have already signed or are negotiating free trade deals with ASEAN.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Cyber security consultancy CSO Group to merge with AI enabler xAmplify

Cyber security consultancy CSO Group to merge with AI enabler xAmplify

Sydney-based cyber security consultancy CSO Group is set to join fo...

Julian Assange will be freed after striking plea deal with US authorities

Julian Assange will be freed after striking plea deal with US authorities

Julian Assange has reached a deal with the United States Department...

Cash transporter Armaguard receives $50m lifeline to stay afloat

Cash transporter Armaguard receives $50m lifeline to stay afloat

As cash processing, storage and transport company Armaguard struggl...

Cettire loses $411m in value as shares plummet 48pc

Cettire loses $411m in value as shares plummet 48pc

All of the extraordinary share price gains made by Melbourne-based ...