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Australia's cotton sector pushes for ChAFTA

 

The China-Australia Free Trade Agreement (ChAFTA) is vitally important for cotton growers, their employees and the rural communities they support. More than 99 per cent of Australia’s cotton crop is exported, much of it to China. The agreement would deliver important tariff cuts that would greatly benefit cotton growers. Unfavorable weather conditions in Australia have subdued cotton production for the past two years. Growers in many areas have been hard hit, so the passing of the FTA would be a shot in the arm for them and the industry as a whole.

Around 65 per cent of the annual Australian cotton crop is exported to China. Australian cotton exports to China are more than the combined value of Australia’s exports to the United States, Germany, the United Kingdom, South Korea, France, Canada and all of South East Asia. Australian farmers across all sectors rely on trade and international markets to generate $42.4 billion for the Australian economy each year, with $9 billion in earnings from China alone.

China is Australia’s largest export market for both goods and services, accounting for nearly a third of Australia’s total exports, and a growing source of foreign investment. The China-Australia Free Trade Agreement was signed in June 2015.

 

 
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