Last Updated on December 25, 2019 by Evan Retallack
Operating in the growing Asian market is key for Australian exporters, driven by the expanding middle class and demand for high-quality food in the region.
To help with this prospect, Australia is entering multiple agreements with Asian countries in an attempt to assist local businesses with favourable trading conditions.
A great example of this is the Japan-Australia Economic Partnership Agreement (JAEPA). Coming into effect just over a year ago, a number of important local industries are reaping the rewards, according to the Australian Minister for Trade and Investment Andrew Robb.
This relationship is underscored by the fact that Japan was one of Australia's largest trading partners in recent years, based on Department of Foreign Affairs and Trade data.
The JAEPA in action
Under the JAEPA, there are substantial tariff cuts to many products. As a result, it is more economic for Japanese businesses to import from Australia and for local enterprises to ship their produce offshore.
Thanks to these favourable tariffs, both beef and wine export sales have soared.
The minister states that fresh table grape exports are now worth $6.5 million, compared to just $0.6 million before the deal. Conversely, both fresh and frozen beef export sales have increased (24 and 15 per cent respectively).
Mr Robb explained that the JAEPA is another sign that Australia's future lies in the lucrative Asian markets.
"The latest data shows Australian businesses have been quick to capitalise on the agreement with Korea, and the historic FTA with China – which entered into force late last year – is expected to yield similar results," he said.
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Of course, to keep these numbers high, Australian businesses must understand the importance of consistent and quality delivery. This is where the products at Eco Pallets can be of assistance.
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