National Farmers’ Federation president Brent Finlay said Australian farmers exported around $15 billion of agricultural goods to Trans-Pacific Partnership countries in 2014, representing about one third of total exports of agricultural products.
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Mr Finlay said that $15 billion was now set to increase as a result of the new agreement.
“Farmers currently face a range of tariff and non-tariff barriers across the region,” he said.
“Reduced tariffs and greater certainty on rules means more market opportunities and more investment and this means more jobs and growth in regional centres.
“While not reaching the high ambition sought by some sectors, there should be no doubt that Australia needs to be a party to the TPP deal.
“The nature of agreement means that exclusion from a completed TPP agreement would have delivered significant negative outcomes for Australian agriculture.
“Regardless, reaching consensus with 12 other nations is significant and game changing for trade.
“On the whole, there is no doubt this agreement will improve trading conditions for Australian farmers.”
