MEDIA RELEASE

15 October, 2018

Bipartisan support of TPP-11 important for Australian wool exports

Peak woolgrower representative body, WoolProducers Australia (WPA) is calling for bipartisan support of implementing legislation for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11) in the Senate next week.

The TPP-11 implementing legislation passed the House of Representatives with bipartisan support in September, and it is hoped the same will be achieved again when it is considered by the Senate on Monday.

WoolProducers Australia President, Richard Halliday said ‘Both sides of the Australian government must be focussed on enabling TPP-11, especially given that Australia exports 98 per cent of its wool.’

‘Passing the enabling legislation in the Senate will allow early ratification of TPP-11. This will benefit Australian woolgrowers as it will maintain market accessibility’ Mr Halliday said.

Wool exports to TPP-11 members totalled $35 million in 2017, with total Australian wool exports of valued at around $3.7 billion for the same period.

‘All tariffs on Australian raw wool exported to TPP-11 countries will be eliminated and within the TPP-11 region, products such as yarn made from Australian wool in partnering countries will receive preferential treatment.’

‘This will create increased demand for Australian wool in partnering countries because of the TPP-11 rules of origin for textiles.’ Mr Halliday said.

WoolProducers strongly supports the implementing legislation being passed without delay so the benefits of TPP-11 to agriculture and regional Australia in particular, can be realised quickly.

‘This is the world’s largest ever regional trade agreement. Australia must be a part of it given the huge opportunities it presents for wool and other agricultural exports.’ Mr Halliday concluded.

ENDS

WoolProducers Australia contact:

Richard Halliday                                                                                     Jo Hall

President                                                                                                 Chief Executive Officer

0428 854 759                                                                                          0488 554 811