Zero-tariff for 85% of Australia's export to China
The China-Australia free trade agreement was approved without problems in the federal House of Repre…The China-Australia free trade agreement was approved without problems in the federal House of Representatives on October 22.
According to this agreement, tariffs will be cut to zero for 85% of Australian goods exported to China. It is expected that trade amounts will increase with 93% within four years. An increase of 95% is expected in more than ten years, when the agreement is fully implemented.
In 2008, exports to China amounted up to 13 million Yuan. At this moment this amount has increased to 83 million Yuan. The fruit and vegetable industry will get the most out of the China-Australia free trade agreement. Tariffs at this moment are 10% to 25% on fruit, walnuts and pistachios. These tariffs will disappear within four years. It is believed that the same will happen with tariffs for avocados, oranges, mangoes, peaches, apricots, apples, pears, grapes and watermelons.