The Minister for Employment, Senator the Hon Michaelia Cash said today’s agreement on the historic China Australia Free Trade Agreement is terrific news for Australian jobs.
Minister Cash said for Australia to take advantage of the opportunity for jobs growth in the 21st Century, ratifying agreements that reduce or abolish trade barriers is essential.
“The landmark China-Australia Free Trade Agreement will unlock immense benefits for Australians for many years to come,” Minister Cash said.
“As well as adding billions to the economy and drive higher living standards for all Australians, this deal will ensure thousands of jobs are created across all States and Territories.”
“As a result of this historic agreement Australian businesses will have unprecedented access to the world’s second largest economy.”
“It greatly enhances our competitive position in key areas such as agriculture, resources and energy, manufacturing exports, services and investment – these are industries that already generate many jobs but importantly they are sectors where we will see extraordinary opportunities for future jobs growth.”
On full implementation of the China Australia Free Trade Agreement, 95 per cent of Australian goods exports to China will be tariff free.
Minister Cash said demand for Australian goods and services is already strong, but with this unprecedented access to the Chinese market this demand will only grow, leading to inevitable jobs growth in a wide range of industries.
“The dairy industry says the China Free Trade Agreement will create 600-700 jobs in just the first year, while other industries such as beef, horticulture and wine will see strong job gains,” Minister Cash said.
“The Financial Services Council says the China agreement could result in the creation of 10,000 new jobs by 2030 in financial services alone.”
“The resources sector has played an instrumental role in delivering prosperity and jobs to Australians and this sector will continue to play a pivotal role in our economy for many years.”
“However to ensure we continue to grow, prosper and create the jobs of tomorrow, the diversification of Australia’s economy is essential – trade agreements are fundamental to ensuring we play to our strengths and produce the jobs of tomorrow.”
“These are exciting times for Australia and I applaud the hard work of the Minister for Trade for delivering this historic agreement.”
“I call on the CFMEU and the ETU to cease their misleading and divisive campaign against the China Australia Free Trade Agreement – get on board and back this historic deal that is good for jobs, good for growth and good for all Australians.”