Federal Member for Capricornia Michelle Landry has welcomed the Free trade Agreement with the United Kingdom and the wealth it will bring to Central Queensland Farmers.
Michelle Landry said, “The Federal government has given Central Queensland famers and all who work in the agriculture industry a huge lift with the signing of the ‘Free Trade Agreement’ with the United Kingdom.”
- For the Beef Industry all tariffs will be eliminated after ten 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. In the subsequent five years a safeguard will apply on beef imports exceeding a further volume threshold rising in equal instalments to 175,000 tonnes, levying a tariff safeguard duty of 20% for the rest of the calendar year.
Ms Landry said “We have just finished a hugely successful Beef Australia 2021 where there were many great announcements, but I think this tops it all. This is an amazing opportunity for Beef Farmers in Capricornia, and I know that with the quality of product we produce here, Central Queensland Beef will be highly sought after.”
- There is also great news for the Sugar Industry. 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.
Ms Landry said “I am so happy to be able to deliver some good outcomes for the Sugar Industry in my electorate. Things have been tough lately but with the opening of new markets I sense there are good times ahead.”
- This agreement will deliver more Australian jobs and business opportunities for exporters.
- Australian producers and farmers will receive a significant boost by getting greater access to the UK market.
- Australian consumers will benefit from cheaper products, with all tariffs eliminated within five years, and tariffs on cars, whisky, and the UK’s other main exports eliminated immediately.
Ms Landry said “Many in the industry are calling this “Free Trade Agreement” the most significant market access outcome for a long time. I hope all of the agriculture industry will take advantage and benefit from this trade deal. I’m happy to say the future looks very bright indeed.”