Fonterra to appeal Aussie court ruling
Fonterra says its ongoing legal battle with Australian processor Bega Cheese won’t change its divestment plans.
NFF president Brent Finlay says it remains a firm supporter of the TPP as a key platform to drive increased trade and investment.
“A good agreement will greatly improve opportunities for Australian farmers to sell products to markets we know are demanding high quality food and fibre,” he says.
If concluded, the TPP would be the world’s largest regional free trade agreement, the 12 countries (800 million people) making up 40% of the global economy.
Negotiating the TPP are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, the US and Vietnam. But the talks in Hawaii last month ended in a stalemate; access to dairy markets remains a sticking point.
Finlay says it’s important the final agreement is a comprehensive and trade liberalising pact that benefits Australian farmers.
“NFF understands the ministers of the 12 countries have made good progress during the talks this week; we recognise agriculture is always one of the most difficult areas to agree on.
“Good outcomes… for Australian agriculture from the TPP have always been the objective for the NFF; sustained commitment is required….
“It is disappointing a deal… has not been concluded, but NFF recognises the hard work of Minister Robb and the government officials in this challenging round.”
Robb, who attended the talks with his counterparts, says big gains were made and a conclusion is within reach.
“We all went to Hawaii with the aim of concluding and… we are definitely on the cusp.
“Most importantly the resolve remains to get this done.
“While nothing is agreed until everything is agreed, we have taken provisional decisions on more than 90% of issues and during my involvement… this has been by far the most productive meeting at both ministerial and official level.”
Robb is confident the TPP will succeed as the biggest regional agreement and the most important since the conclusion of the Uruguay round.
“From Australia’s perspective we have made significant gains in every area, including agricultural market access.” Only a handful of big issues are outstanding – automotives, data protection for biologics, dairy and sugar.
Profound benefits
Australian Trade Minister Andrew Robb says the TPP presents an opportunity for truly transformational reform.
“The establishment of a set of common trade and investment rules across these 12 countries – with the prospect of others joining – will have a material effect in lowering the cost of doing business,” says Robb.
“This will support profound economic benefits -- growth, job creation and higher living standards, market access gains for our exports and services and a better investment environment.
One third of Australia’s exports of goods and services are to TPP countries and 45% of Australian outwards investment. Negotiations began in 2010.
