New opportunities for Western Australian exporters in Asia
Media release
9 June 2010
Trade Minister Simon Crean today released analysis highlighting major new opportunities for Western Australian exporters in South East Asia.
Western Australia exported $7.2 billion of merchandise to the 10 ASEAN nations in 2009.
"The start of the ASEAN-Australia-New Zealand Free Trade Area this year has ushered in phased tariff cuts which will deliver new prospects for Western Australian exporters," Mr Crean said.
"Now is the time for Western Australian companies and producers to grab their share of the action in South East Asia."
"Asia is the fastest growing region in the world, but the growth is not confined to China, Japan - Western Australia's two biggest export markets."
"ASEAN is Western Australia's fifth largest export market for goods and represents 9 per cent of total state merchandise exports."
"Across the 10 countries of ASEAN, there are potential export gains in a wide range of sectors crucial to Western Australia. These include crude oil, wheat, malt, live cattle, meat, wine, seafood, steel and aluminium."
"This is a great opportunity and I urge Western Australian companies to engage with Austrade to assess their export prospects in ASEAN - a market of 600 million people with a combined GDP of $3.2 trillion."
Today Mr Crean released analysis by the Department of Foreign Affairs and Trade that identifies opportunities for Western Australian exporters arising from tariff changes delivered by the agreement. These include:
- Elimination of a 3% tariff from January 2010 on crude petroleum oil exports to the Philippines worth $27.5 million.
- Elimination of a 5% tariff in 2016 on wheat exports to Vietnam worth $92.1 million.
- Lowering from 7% to 3% in January 2010 of tariff on wine exports to the Philippines. Elimination in 2015. Elimination of 5 per cent tariff on sparkling wine in January 2010.
- Cut from 10 per cent to 5 per cent in January 2010 of tariff on $2.4 million of fresh, chilled or frozen boneless beef cuts to the Philippines. Elimination in 2012.
- Cut from 30 per cent to 7 per cent in January 2010 of tariff on $1.4 million of exports of unalloyed aluminium sheets to Malaysia. Elimination in 2012.
- Cut from 30 per cent to 25 per cent from January 2010 of tariffs on $1.6 million of exports of frozen shrimps and prawns to Vietnam. Phasing to 0 per cent 2018.
"These changes will also help boost exports from across the state and particularly regional Western Australia. Those who stand to benefit include the resource companies and cattle producers of the NorthWest, the grain farmers in the Wheatbelt, and the wine and dairy producers of the SouthWest and South Coast," Mr Crean said.
Mr Crean is in Western Australia for Community Cabinet and has arrived directly from Japan where he attended the APEC Trade Ministers' meeting and delivered a keynote address to promote Australia's FTA negotiations with Japan.
While in Perth, Mr Crean will encourage companies to get behind Australia's new Australia Unlimited brand which he launched last month at the Shanghai World Expo.
The ten nations in ASEAN are Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The analysis can be found at: http://www.dfat.gov.au/trade/fta/asean/aanzfta/index.html
Media inquiries
- Trade Minister's Office: (02) 6277 7420
- Departmental Media Liaison: (02) 6261 1555