Australia's export trade agreements with China, Japan and South Korea – three of our four largest export markets – will set Australia up for the long term. These agreements will grow our economy, create jobs and benefit consumers.
Independent economic modelling has found that together these three free trade agreements will, over the next two decades, create many thousands of new jobs, make households more than $4,000 better off and boost GDP by almost $25 billion.
For Australian consumers and businesses, the new trade agreements will also place downward pressure on the prices of some goods, such as vehicles, electronics, clothes and household appliances.
The Trans-Pacific Partnership Agreement (TPP) promises even greater benefits for Australian exporters and investors in the fast growing Asia-Pacific region.
We are negotiating further export agreements with India, Indonesia, and regional and Pacific nations and have agreed to negotiate an FTA with the 28-member European Union, creating even greater opportunities for Australian businesses.