AUSTRALIAN dairy exports will receive a boost from tariff reductions and expanded access into several lucrative markets after the federal Senate voted to ratify the 11-nation Progressive Trans Pacific Partnership, the dairy industry’s peak body says.
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The Australian Dairy Industry Council said the outcome was a significant victory for the dairy industry with the benefits to include the phasing of tariffs on many cheeses over 15 years.
The 11 member countries, including Japan (Australia’s largest cheese customer) and Canada and Mexico (which don’t have existing trade agreements with Australia), collectively represent 32 per cent ($1.1 billion) of the total value and 35 per cent of the total volume of Australian dairy exports.
The United States pulled out of the negotiations on the trade deal last year.
