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Australia, South Korea sign free trade pact
by hlk Thu 05 Dec 2013, 19:59
MELBOURNE: Australia has sealed a free trade agreement with South Korea.
Prime Minister Tony Abbott told parliament on Thursday Trade Minister Andrew Robb had successfully concluded negotiations with Korea, which is Australia's third largest export market.
Abbott said it was good news for exporters, jobs, farmers and the country at large.
"Under this agreement, tariffs will be eliminated on Australia's major exports to Korea and there will be significant new market openings in services and investment," he is quoted by the Australian Associated Press as telling Parliament.
Tariffs will be phased out over the next 15 years on products such as beef, wheat, dairy, sugar, wine, seafood and fruits.
The deal will now go to cabinet and the joint standing committee on treaties.
"The conclusion of this free trade agreement will see the delivery of a key election commitment," the prime minister said.-- Bernama
Read more: Australia, South Korea sign free trade pact [You must be registered and logged in to see this link.]
Prime Minister Tony Abbott told parliament on Thursday Trade Minister Andrew Robb had successfully concluded negotiations with Korea, which is Australia's third largest export market.
Abbott said it was good news for exporters, jobs, farmers and the country at large.
"Under this agreement, tariffs will be eliminated on Australia's major exports to Korea and there will be significant new market openings in services and investment," he is quoted by the Australian Associated Press as telling Parliament.
The deal will now go to cabinet and the joint standing committee on treaties.
"The conclusion of this free trade agreement will see the delivery of a key election commitment," the prime minister said.-- Bernama
Read more: Australia, South Korea sign free trade pact [You must be registered and logged in to see this link.]
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