A new free trade agreement (FTA) is set to strengthen Australia’s horticultural trade ties with Hong Kong.
Singed earlier this week, the FTA will ensure Australia's fresh produce export trade to Hong Kong will remain tariff-free.
An open regulatory environment, Hong Kong is a key market for Australian fresh fruit suppliers, with trade valued at A$137m.
“Our two-way agricultural trade with Hong Kong is currently worth around A$1.4bn and will continue to grow,” said Australian minister for agriculture, David Littleproud. “Fruit, wine, beef and veal and seafood are some of our most valuable exports and we now provide certainty to these industries.
“Hong Kong is also a large market for Australian agriculture and a major gateway for our producers into East Asia, so it’s also an avenue to tap into other markets.”
The FTA will also see the implementation of modern trading rules on e-commerce, financial services and intellectual property.