THE Australian red meat industry has welcomed the announcement that a new look Trans-Pacific Partnership (TPP) 11 deal will be signed in Chile in March.
The re-named Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) will lock in the market access commitments for the 11 parties for red meat products as negotiated in the original TPP outcome.
On behalf of the Australian beef, sheep, lamb and goatmeat businesses, Red Meat Advisory Council (RMAC) independent chair Mr Don Mackay welcomed the announcement of the new market access gains.
“The CPTPP benefits will add significant value to the Australian red meat and livestock industry and complement the gains derived from the other free trade agreements Australia has concluded to date,” he said.
“Benefits from improved market access arrangements through the Trans-Pacific Partnership (TPP) are set to flow for the Australian red meat and livestock sectors in key red meat markets such as Japan, Mexico and Canada.
“The implementation of the CPTPP agreement will also help to ensure that the Australian red meat supply chain remains internationally competitive with more seamless trade rules, reduced costs and less red tape making it easier for our sector to respond to the growing consumer demand across much of the Asia-Pacific region.”
Upon entry into force, the CPTPP will initiate significant improvements to current access arrangements and generate new export opportunities. The CPTPP will deliver on the majority of the red meat industry’s priorities – via securing either a plurilateral reduction or elimination of import tariffs imposed (by CPTPP member countries) on our products in line with various implementation timeframes.
Mr Mackay congratulated the Australian Government on the achievement in securing the reforms after the United States formally withdrew from the TPP in 2017.
“Thanks must go to the Minister for Trade, Tourism and Investment the Hon Steven Ciobo MP and his negotiating team for their tireless efforts in what has been a difficult and protracted series of negotiations over the past couple of years - following the original conclusion of negotiations in October 2015,” he said.
“The CPTPP is critical to the long-term positioning of Australian red meat globally and of acute importance is securing ratification and subsequent entry into force of the CPTPP as soon as possible.”
“This will pave the way for future trade transformation should the CPTPP membership base widen.”
The Australian red meat and livestock industry has been an engaged and contributory party from the outset of the TPP/CPTPP process. It is anticipated the gradual reduction of this cost burden will positively impact the profitability of the Australian red meat supply chain as well as alleviate the inflated (tariff affected) prices paid for Australian red meat, livestock and associated products by CPTPP member country businesses and consumers.