THE South West region is set to become one of the main benefactors from the Federal Governments historic signing of a free trade agreement with China.
Federal Member for Forrest Nola Marino said more than 85 percent of Australian goods exported would be tariff free upon commencement of the agreement, rising to 93 percent within four years.
“The South West will particularly benefit from the phased elimination of tariffs on exports of dairy products, seafood, wine, varieties of fruit or vegetables and beef” Mrs Marino said.
The Chinese conglomerate COFCO is already searching for the right partners and projects for large scale investments in WA farming.
COFCO executive Hong-Huan Pan said the state-owned enterprise wanted to invest in boosting production and had not ruled out investing in farmland or live cattle trade once quarantine protocols were finalised.
WAFarmers president Dale Park has also announced that talks have begun with China about exporting milk into Asia.
“This is important to our future and the avenues for not just milk but other products are huge” Mr Park said.
The wine industry is also set to get a boost with Burch Family Wines announcing a partnership with leading Agricultural company Joyvio Group.
Burch Family wines Chief Executive Officer Jeff Burch had said the partnership with Joyvio would cement their brand as being truly competitive on the world stage.
The instantly recognisable Howard Park and MadFish labels will soon become the calling cards of Australia in China.
“Every time you buy a bottle of my wine in China, it’s a postcard from Western Australia” Mr Burch said.
Economists are predicting Western Australia will enjoy a shift from the mining boom to a dining boom, which is great news for producers right across the South West.
