South West wins in new trade deal

The South West are the big winners in the Turnbull Government’s new trade agreement with Peru.

Member for Forrest Nola Marino said the Peru-Australia Free Trade Agreement (PAFTA) will help create new local jobs as it opens the door for South West businesses to one of the world’s fastest growing economies.

“This comprehensive agreement creates new export opportunities for local businesses,” Mrs Marino said.

“PAFTA is one of our most ambitious FTAs on services trade, putting South West businesses in pole position to capitalise on this growing market.”

“Dairy processers will have historic access opportunities into Peru.”

Australian education providers will be able to establish campuses in Peru, and Peru will recognise Australian degrees – making it easier for Australian universities to attract Peruvian students. PAFTA will provide guaranteed access for Australian lawyers, engineers, architects, accountants and urban planners to provide their services in Peru. Australian hotels, restaurants, travel agencies and tour operators will benefit from guaranteed access to Peru’s significant and expanding tourism market.

Peru is one of the fastest growing economies in the world with an average growth rate of 5.9 per cent over the last decade.

“PAFTA gives the South West the opportunity to share in this growth,” Mrs Marino said.

Mrs Marino said PAFTA builds on the trade agreements the Liberal-led Government has delivered with China, Japan and Korea.

“The Turnbull Government is pursuing an ambitious trade agenda and more trade agreements to create more export opportunities for the South West businesses.”

Launched in May earlier this year, PAFTA is the fastest trade agreement Australia has ever concluded.