David Coleman, Federal Member for Banks, said that he was pleased at the enthusiasm shown for the China-Australia Free Trade Agreement at the Banks Ministerial Trade Forum with Federal Minister for Trade and Investment, the Hon. Andrew Robb MP.
Local business owners, including members of the NSW Southern Region Chinese Business Association met with Mr Coleman and Minister Robb to discuss the agreement.
Mr Coleman said that thanks to the Agreement, Australian businesses will have unprecedented access to the world’s second largest economy: China.
“It greatly enhances our competitive position in key areas such as agriculture, resources and energy, manufacturing exports, services and investment,” Mr Coleman said.
“Attendees as today’s roundtable see the potential that the Agreement has for Australian businesses and are very excited about what it means for their businesses and industries”.
Mr Coleman said that on full implementation of ChAFTA, 95 per cent of Australian goods exports to China will be tariff free.
“This means households and businesses will also reap the benefits of cheaper goods and components from China such as vehicles, household goods, electronics and clothing, placing downward pressure on the cost of living and the cost of doing business,” Mr Coleman said.