Australia and Peru signed the Peru-Australia Free Trade Agreement (PAFTA) today, opening the door for Australian exports to one of the fastest growing economies and regions in the world.
PAFTA will help create new Australian jobs and drive economic growth as it delivers huge wins for our exporters, with historic market access that goes beyond the TPP-11 Agreement.
PAFTA will eliminate tariffs on 99 per cent of Australian goods within five years of the Agreement’s entry into force.
Australian exports of sugar, dairy, rice, sorghum, sheepmeat, wine, kangaroo, almonds, pharmaceuticals, medical devices, paper products and machinery will have immediate tariff free access. Beef will be tariff free within five years.
The access the Turnbull Coalition Government has secured for Australian sugar, an unprecedented 90,000 tonnes, is more than any other sugar exporting country has achieved into Peru in the last 20 years and is equivalent to roughly 30 per cent of Peru’s sugar imports.
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