‘Level playing field’ as Australia-Korea FTA comes into force

15/12/2014
The Korea-Australia Free Trade Agreement (KAFTA) entered into force on 12 December, a deal which will add between $20m and $40m per year to the Australian beef industry.

A spokesman for the KAFTA Australian red meat industry taskforce, Stephen Kelly, said: “Not only is it seen as a mechanism for further improving the trading environment, but it is also a means to address the competitive disadvantage Australian beef faces versus beef imported by Korea from the US, Australia’s major competitor in the Korean market.

“KAFTA will help Australian exports compete on a more level playing field as well as help secure the ongoing supply of Australian beef for Korean consumers in what is becoming a highly competitive global protein market,” Mr Kelly said.