The flag is flying for our farmers following the announcement of a proposed trade agreement between Australia and the UK.
The ‘in principle’ deal, reached by Prime Ministers Scott Morrison and Boris Johnson, is the first agreement reached by the UK since its separation from the EU last year, and will guarantee tariff-free, quota-free access to the UK market for all agricultural products (after phase in periods of up to 15 years.)
Australian producers and farmers will receive a significant boost by getting greater access to the UK market, including overseas farm workers.
Key take outs for agriculture include: · Beef tariffs will be eliminated after 10 years. During the transition period, Australia will have immediate access to a duty-free quota of 35,000 tonnes, rising in equal instalments to 110,000 tonnes in year 10 years. · Sheep meat tariffs will be eliminated after 10 years. During the transition period, Australia will have immediate access to a duty-free quota of 25,000 tonnes, rising in equal instalments to 75,000 tonnes in year 10 years. · Sugar tariffs will be eliminated over eight years. During the transition period, Australia will have immediate access to a duty-free quota of 80,000 tonnes, rising by 20,000 tonnes each year. · Dairy tariffs will be eliminated over five years. During the transition period, Australia will have immediate access to a duty-free quota for cheese of 24,000 tonnes, rising in equal instalments to 48,000 tonnes in year five. · Australian dairy farmers will also have immediate access to a duty-free quota for non-cheese dairy of 20,000 tonnes. · Rice will receive immediate duty free access for short and medium grain milled rice when the agreement enters in force. AgForce would like to thank everyone involved for their hard work in securing a new beginning for our industry. |
