The Victorian economy is set to enjoy significant gains from the China-Australia Free Trade Agreement (ChAFTA)
ChAFTA will mean increasingly more profitable exports for Victorian farmers, and more high quality Victorian produce on the plates of the emerging Chinese middle class. The Agreement signals a bright future for Victorian dairy farmers, who last year produced 85 per cent of Australia’s dairy exports; worth $2.3 billion, which included exports to China worth $369 million. Tariffs of up to 19 per cent on all dairy products will be phased out completely on things like infant formula, liquid milk and manufactured products. Tariffs on beef and lamb of up to 25 per cent will also be progressively eliminated.