Trade and Tourism Minister Don Farrell has announced negotiations between Australia and the United Arab Emirates (UAE) on a Comprehensive Economic Partnership Agreement have concluded.
Australia set to sign 'very good' UAE trade deal furthering Albanese govt’s ambition to become a 'renewable energy superpower'
Trade Minister Don Farrell has announced negotiations between Australia and the UAE on a Comprehensive Economic Partnership Agreement have concluded. Picture: NewsWire / Martin Ollman “This is a very good deal for Australian farmers and producers, including beef and sheep producers, with estimated tariff savings of $50 million each year from our food and agricultural exports alone.”
“The Australian mining industry will also benefit with tariff cuts on exports, including alumina which was valued at $1 billion in 2023.” During the press conference, Mr Farrell said “from a cost of living perspective” the agreement would cut Australian import tariffs on a range of household items and building supplies from the UAE, making them “cheaper at the checkout” while lowering business costs for tradies by about $40 million a year.
“Our job is to get new trade agreements because we know that trade is good for businesses, obviously, but it’s also good for workers,” Mr Farrell responded.
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