February 26, 2009

Australia-ASEAN free trade agreement to boost beef exports

Australia's beef exporters may benefit greatly from a free trade agreement (FTA) with the Association of South-East Asian Nations (ASEAN), to be signed on Friday (Feb 27).


The deal will take effect on January 2010, and will slash tariffs on Australian beef and live cattle exports to countries such as Indonesia, Vietnam and the Philippines.


Australia's Trade Minister Simon Crean will travel to Thailand to sign the deal on Friday when the new tariff schedule will be formally released.


Indonesia has a 5 percent tariff on beef imports, the Philippines has a 3 percent tariff on live cattle imports while Vietnam has a 30 percent tariff on pork imports.

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