Farmers exporting to Japan have received another win, with tariffs on trade with Japan cut for the fourth time and quota volume increases on a range of goods.
Last week’s cuts, negotiated by the Japan-Australia Economic Partnership Agreement, will benefit those exporting beef, seafood, cheese, fruit and honey.
National Farmers’ Federation president Fiona Simson said the news was great for Aussie farmers, with the largest tariff reductions applying to chilled and frozen beef.
‘‘Tariffs on these products will drop to 29.9 per cent and 27.2 per cent respectively, down from 38.5 per cent,’’ Ms Simson said.
‘‘Beef remains Australia’s leading agricultural export to Japan, worth $1.8billion in 2016.’’
Japan is the second biggest export market for Australian agricultural products, representing $4.7billion worth of trade last year.
Federal Trade, Tourism and Investment Minister Steven Ciobo said the news would allow the industry to grow.
‘‘Our farmers produce more than Australia can consume so they need access to the world to thrive and prosper,’’ he said.
‘‘Trade agreements like JAEPA have unlocked the door to markets that are worth billions of dollars to the Australian economy.’’