Confirmation of the new Australia-India interim free trade agreement (FTA) has been welcomed by national body Seafood Industry Australia (SIA) as the industry seeks to open up new markets.
The landmark deal will eliminate tariffs for Australian seafood products and give the country’s producers access to millions of potential Indian customers through the retail, hospitality and foodservice channels, SIA highlighted.
“This announcement marks a period of renewed growth and opportunity for the Australian seafood industry, and we look forward to building strong and vibrant relationships with Indian seafood consumers,” SIA CEO, Veronica Papacosta, said.
“As an industry we have been working hard over the past two years to diversify our markets to ensure we have a resilient export strategy. This announcement provides a significant leap forward in market access to India’s population of 1.3 billion people, which is welcomed by the Australian seafood industry.
“Importantly, there will be an elimination of the 30% tariff on entry into force for fresh rock lobsters and an elimination of tariffs over seven years for other fresh, frozen and processed seafood products including Tasmanian Atlantic salmon, tuna and frozen rock lobster.”
As well as praising Prime Minister Scott Morrison, Trade Minister Dan Tehan and the Australian negotiation team on the improved market access, Papacosta acknowledged “the hard work” of the Seafood Trade Advisory Group, the Seafood Export Consultative Committee and members of the Australian seafood industry who “worked tirelessly” with the government to help secure the deal.
