The South West continues to see benefits from the Federal Government’s free trade agreement with China after a new deal was struck with the South West Development Commission.
SWDC chief executive officer Don Punch said the State Government agency signed a memorandum of understanding with Jiaxing’s department of commerce as part of efforts to promote economic activity between the South West and its sister city and surrounding towns and cities in China.
“It is a message to businesses in South East China that this is a region they can confidently do business with and it also helps to build our civic and cultural links,” Mr Punch said.
“There is still a long way to go but China is an important trade destination for the South West, as is South East Asia and India, and building strong relationships provides a basis for expanding business and education links.”
On a separate note, Mr Punch said the new China-Australia free trade agreement provided the South West with further opportunities to build trade relationships with the world’s largest market.
“The Free Trade Agreement with China is a great opportunity for the South West and will allow us to capitalise on our agrifood opportunities especially in dairy, beef, sheep,” he said.
Federal Member for Forrest Nola Marino said more than 85 percent of Australian goods exported would be tariff free upon commencement of the agreement, rising to 93 percent within four years.
“The South West will particularly benefit from the phased elimination of tariffs on exports of dairy products, seafood, wine, varieties of fruit or vegetables and beef” Mrs Marino said.
The Chinese conglomerate COFCO is already searching for the right partners and projects for large scale investments in WA farming.
COFCO executive Hong-Huan Pan said the state-owned enterprise wanted to invest in boosting production and had not ruled out investing in farmland or live cattle trade once quarantine protocols were finalised.
WAFarmers president Dale Park has also announced that talks have begun with China about exporting milk into Asia.
“This is important to our future and the avenues for not just milk but other products are huge” Mr Park said.
The wine industry is also set to get a boost with Burch Family Wines announcing a partnership with leading Agricultural company Joyvio Group.
Burch Family wines Chief Executive Officer Jeff Burch had said the partnership with Joyvio would cement their brand as being truly competitive on the world stage.
The instantly recognisable Howard Park and MadFish labels will soon become the calling cards of Australia in China.
“Every time you buy a bottle of my wine in China, it’s a postcard from Western Australia” Mr Burch said.
Economists are predicting Western Australia will enjoy a shift from the mining boom to a dining boom, which is great news for producers right across the South West.
