Australia and Hong Kong have concluded negotiations on the Australia-Hong Kong Free Trade Agreement (FTA) paving the way for zero tariffs on agriculture exports to Hong Kong.
Agriculture Minister David Littleproud said the new FTA would lock in zero tariffs for Australian meat, livestock, seafood and wine exports, creating new opportunities for growers.
The Australia-Hong Kong agriculture, fisheries and forestry trade relationship was worth $1.4 billion to Australia last financial year.
Australia’s top agriculture exports to Hong Kong are meat and live animals ($167 million), seafood ($159 million) and wine ($131 million).
“This FTA recognises our reputation as a supplier of clean, green world-class produce,” Mr Littleproud said.
“It is also proof of the strong agricultural relationship between Hong Kong and Australia.
“Hong Kong is also a major gateway to the rest of East Asia and gives our farmers a way to tap into other markets.”
Mr Littleproud said Australian agriculture continues to benefit from FTAs signed with China (ChAFTA), Korea (KAFTA), Japan (JAEPA) and Peru (PAFTA). It will also be a key beneficiary from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11).