Senator Matthew Canavan said today that the signing of an Economic Partnership Agreement between Australia and Japan was great news Queensland, and great news for the beef industry of Central Queensland in particular. 

"Australia is the only major agricultural exporter to now have a trade agreement with Japan. More markets for our beef will mean more money for our farmers. More money for farmers means more money circulating through towns and more jobs" said Senator Matt Canavan.

Under the agreement with Japan, beef tariffs will fall from 38.5 per cent today to 19.5 per cent for frozen beef, and 23.5 per cent for chilled beef, over 15 years. In the first year of the agreement alone, tariffs will be cut to 30 per cent for frozen beef and 32.5 per cent for chilled beef.

"As a nation, unfortunately, we won't produce cars in the future. The way we will make them instead is to grow beef, grow cotton and mine coal, send that on a boat overseas, and then a boat will come in the other direction with a car on it.

"This agreement with Japan will deliver more wealth for Australia and allow us to maintain the high standard of living we enjoy.

"The agreement begins a new chapter in an already strong relationship between Australia and Japan – a relationship that was goes back to the historic signing of a Commerce Agreement in 1957. A former leader of the Country (now Nationals) Party, John McEwen, showed courage to push for that agreement just 12 years after the end of World War II."

8 July 2014