New year, new trade opportunities for Aussie agriculture

  • Fri, 16 February 2024

New year, new trade opportunities for Aussie agriculture

2024 promises to be another strong year of exports for Aussie farmers, with improved market access and tariff rate cuts providing new opportunities to send produce overseas.

Australia's network of Free Trade Agreements have already delivered new and valuable opportunities for our red meat, grain, horticulture and other agricultural industries.

But improvements in trade agreements, including those with the United Kingdom and India, will deliver new and diversified trade opportunities for Australian farmers in 2024.

Agricultural export values are forecast to reach $67 billion in 2023-24, the second highest on record, with recent rains expected to drive that forecast even higher.

Minister for Trade, Don Farrell, said the Albanese Government will continue to press hard in 2024 to create more trade opportunities for Australian businesses, exporters, farmers and producers seeking to diversify into new markets.

"At a time of heightened global uncertainty, a free, open and rules-based trading system is more important than ever," Minister Farrell said. "On balance, trade is a force for good. More trade means more well-paying jobs, more national income, more opportunities for business, and a lower cost of living. "Trade agreements are an effective tool to stimulate investment, increase global demand of our premium produce, and create opportunities to diversify into overseas markets.

"The Albanese Government is committed to supporting our agricultural industry reach its $100 billion production goal by 2030. "To assist the farming sector deliver on this objective, this Government will commence trade negotiations in 2024 with the United Arab Emirates, build on our trade deal with India, and support exporters take advantage of existing trade agreements, including with the United Kingdom." Minister for Agriculture, Fisheries and Forestry, Murray Watt said 2024 would deliver new opportunities for the nation's agriculture industry. "These new and exciting trade opportunities have opened new doors for Aussie farmers and producers, which is particularly great news for regional communities and local jobs", Minister Watt said.

"We've got a great global reputation for delicious, high-quality produce, and I'm pleased we get to show that off to more consumers around the world in 2024. "The Albanese Government has been committed to developing strong international relationships. "Tariff reductions and larger tariff-free quotas on key agriculture commodities under Australia's FTAs will deliver commercially significant export diversification opportunities for our producers. "For example, under the Australia-United Kingdom FTA, we've seen a big increase in the amount of beef and sheep meat being exported to the UK, significantly boosting our market access in this once restricted high-value market."