Assistant Minister for Trade, Tourism and Investment Keith Pitt has responsed to the recent withdrawal of the US from the TPP.
Assistant Minister for Trade, Tourism and Investment Keith Pitt has responsed to the recent withdrawal of the US from the TPP. Paul Donaldson BUN091216ROAD3

FTAs to continue despite TPP decision: Keith Pitt

ASSISTANT Minister for Trade, Tourism and Investment Keith Pitt has reassured businesses in the Hinkler electorate that free trade agreements will continue despite the US decision on the Trans-Pacific Partnership.

Mr Pitt said the Coalition was continuing to work towards giving producers access to new markets with higher margins, and confirmed Trade Minister Steven Ciobo was in talks with other nations to bring the TPP forward and "ensure the benefits of the TPP are not lost."

"Many Australian businesses are exporting into the markets that we have FTAs in place right now and this will continue, despite the US decision on the TPP," he said.

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FTAs to continue despite TPP decision: Keith Pitt

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"Just this month, new tariff cuts came into force covering more than 7,000 Australian products that we export to China and South Korea, under two other free trade agreements delivered by the Coalition Government.

"We have the chance to capture huge gains in streamlining trade between 11 nations and possibly others."

His response comes following US President Donald Trump's decision to withdraw from the agreement last week.

Mr Pitt said there were numerous trade opportunities being explored, including the Regional Comprehensive Economic Partnership with a number of other countries, which would mean "more jobs for locals."

"Increased trade with other nations means more jobs for locals. There are numerous trade opportunities being explored at any one time, including the Regional Comprehensive Economic Partnership, involving countries like China, Korea, Japan, India, ASEAN countries and NZ, as well as making the most of the valuable agreements already in place, including the FTAs with China, Korea and Japan," he said.



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