Business

China trade agreement will benefit region: MP

THE trade agreement with China reached after nine years of talks will deliver significant benefits for the Gladstone region, according to Member for Flynn Ken O'Dowd.

Mr O'Dowd said because China was the country's biggest trading partner, the agreements would add billions of dollars to the Australian economy and create tens of thousands of jobs in the years ahead.

Prime Minister Tony Abbott signed a "declaration of intent" regarding the agreement on Monday.

Reports on the deal said it included terms that allowed 85% of all Australian exports to enter China "tariff-free", to rise to 93% in four years.

All tariffs on dairy products will be phased out over four to 11 years, and tariffs on beef will be removed within nine years.

Tariffs also will be removed from all resources and energy products, including iron ore, gold, coking coal and non-coking coal.

Mr O'Dowd said the region would particularly benefit from the elimination of tariffs on exports of dairy products, seafood, horticulture, beef and coal.

The China-Australia Free Trade Agreement is expected to give Australian exporters unprecedented levels of market access to the world's second largest economy.

The Flynn MP has just spent the past week in Japan and Korea to "help develop stronger relationships with these trade partners to bring real benefits back home to business and industry in Flynn and the rest of Australia". 

Households and businesses will also reap the benefits of cheaper goods and components imported from China such as vehicles, household goods, electronics and clothing, placing downward pressure on the cost of living and the cost of doing business.

"This is an outstanding agreement, which will translate into greater economic growth, more jobs and higher living standards for the households and businesses of Flynn," Mr O'Dowd said.

Topics:  china, free trade agreement, ken odowd, tony abbott



BREAKING: Gladstone man flees court

Police are looking for this man

33-year-old man wanted by police

Emergency services held up in woman's rail line 'sieges'

Police generic

Woman's late night antics puts Gladstone rail under 'siege'

Gladstone driver's top eight pet peeves on the road

Gladstone Police have released some tips on how to safely navigate through a roundabout.

GLADSTONE drivers aren't the most well-behaved.

Local Partners

Trump's comments make light of statutory rape

Trevor Noah has gone to town on Donald Trump's sexism

Forza Horizon 3 review: Australia's never looked so good

Fancy racing a freight train?

Byron Bay, Gold Coast, Sunshine Coast, Twelve Apostles feature

Tommy goes home in emotional Bachelorette episode

The Bachelorette contestant Tommy Saggus.

BRISBANE bachelor hopes show will give him more confidence.

Kim Kardashian West wants restraining order against prankster

She was attacked by Vitalii Sediuk for the second time in two years

Cliff Richard to release 101st album

Sir Cliff Richard's album cover

Sir Cliff Richard is to release his 101st album

Beach-side real estate starts at $85k on Fraser Coast

HERVEY BAY REAL ESTATE: You can buy this townhouse in Scarness for under $300k.

Live your beach-living dream locally.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by “flexing their muscles at the table”

Few bright lights for property after mining downturn

The Gladstone Regional Council wants associated LNG companies like Bechtel to be apart of the EIS housing accommodation strategy from the outset of the projects and not mid-way through.

Tannum Sands continues to write its own property success story

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'