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Australia's Agriculture to Benefit From CPTPP -- Market Talk

7 May 2018 4:04 am

0404 GMT - Australia's agriculture industry could benefit from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership particularly as the elimination and reduction of tariffs and creation of new quota access into Japan will create export opportunities in a market currently worth almost $4 billion, says the US Department of Agriculture in a note; "Most notably, Japan's beef tariffs will be reduced to 9% within 15 years, making Australian exporters more competitive than U.S. exports." Furthermore, it adds that Malaysia's elimination of liquid milk tariffs and an interim quota of 3.3 million liters per year will provide new opportunities for Australian fresh milk exports worth more than $200 million. (lucy.craymer@wsj.com)

(END) Dow Jones Newswires

May 07, 2018 00:04 ET (04:04 GMT)

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