ChAFTA to benefit red meat
18 September 2015
The legislation needed to implement the China-Australia Free Trade Agreement (ChAFTA) was introduced into Federal Parliament this week by Trade and Investment Minister Andrew Robb.
The agreement includes the following benefits for Australian red meat:
- the tariffs levied on Australian beef of 12–25 per cent will be eliminated over the next nine years
- sheepmeat and goatmeat tariffs of 12–23 per cent will be eliminated over eight years
- the 12–15 per cent tariffs on offal will be eliminated over four to nine years
- the 5–14 per cent tariffs on hides and skins will be eliminated over four to eight years
- the 10 per cent tariffs on live cattle and sheep will be eliminated over four years
The implementation of ChAFTA has the potential to boost the gross value of Australian beef production by $270 million annually by 2024.
The implementation of the agreement has the potential to benefit more than $150 million each year by 2024 for the Australian sheep industry.
For more on ChAFTA contact the Cattle Council of Australia
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