Queensland Cattle Producers Look to Stronger Korean Market02 January 2014
AUSTRALIA - Queensland beef producers will reap the benefits of an expanded export market as a result of the Free Trade Agreement (FTA) negotiated by Australia and the Republic of Korea.
Once signed and implemented, the Agreement will substantially strengthen the Australian beef industry’s hold in the Korean market – our third largest global beef export customer.
AgForce Cattle President, Howard Smith, said he congratulated the Abbott Government on so quickly progressing one of its key election promises.
“This will see the removal of the current 40 per cent tariff imposed on Korea over 15 years, with a tariff differential of 5.3pc,” Mr Smith said.
“Failure to have reached this FTA would have put us at a devastating disadvantage to competitor suppliers like the United States which already has an Agreement in place.
“Given the importance of the Korean market to Australian beef export, we held a 54pc market share there in 2012-2013, this FTA is critical to ensuring our beef producers are given every chance to export their quality product to the world.
“The next priority is to ratify the Agreement so that it may come into force as soon as possible.”
Mr Smith also thanked the team involved in negotiations over several years including members of the AgForce Cattle Board, the producers and staff of Cattle Council of Australia and, particularly, former CCA President, Greg Brown.
“This has been a long process which has demanded a huge amount of work from many people from within industry,” Mr Smith said.
“The Queensland cattle industry now looks forward to a growth in market access for not only beef, but for a number of other agricultural products, to lead to increased prosperity across the sector.”
TheCattleSite News Desk