New FTA to boost Pearce trade

The Liberal Government has launched Free Trade Agreement (FTA) negotiations between Australia and the Pacific Alliance - the Latin American trading bloc made up of Mexico, Chile, Peru and Colombia.

Federal Member for Pearce, Christian Porter, said Australia is one of the first countries to launch FTA negotiations with the Pacific Alliance and Pearce stands to benefit.

“We are seeking a comprehensive, high quality agreement to open new markets for Pearce businesses,” Mr Porter said.

“An FTA with the Pacific Alliance will create new export opportunities for our farmers, manufacturers, educators, service providers, and investors in some of Latin America’s major economies.

“Importantly, this FTA will open the door to Mexico for Pearce exporters.”

Mr Porter said the potential of the FTA for Pearce businesses is significant.

“The GDP of Pacific Alliance members was worth more than USD $1.8 trillion in 2016 and the four countries account for 38 per cent of Latin America’s population and 57 per cent of its total imports,” Mr Porter said.

“Pacific Alliance Members imported goods and services worth more than USD $600 billion in 2016.

“Our ability to capitalise on this demand is limited by high tariffs that block trade, so this FTA will bring down barriers and ensure Pearce businesses have competitive access.”

Negotiations with the Pacific Alliance build on the Liberal Government’s ambitious trade agenda that is creating new export opportunities for Pearce businesses.

“The Liberal Government is committed to opening new markets to create more opportunities for Pearce businesses to grow, driving economic growth and creating new local jobs.”