Abbott Government Misleads on Korea Trade Agreement

04 September 2014

The Deputy Prime Minister Warren Truss has joined the Trade Minister in misleading industry and the public over Labors position on the Korea-Australia Free Trade Agreement (KAFTA).

This shows the Abbott Government is more interested in playing partisan politics than expanding Australias trade opportunities.

Labor supports trade because it provides jobs and growth for Australia. We have a strong track record over the last 30 years of advocating for trade liberalisation.

In Government, Labor negotiated trade agreements with Malaysia, ASEAN and New Zealand, and Chile, and launched negotiations for a free trade agreement with Korea.

Labor has expressed concerns about the quality of KAFTA which the Abbott Government finalised earlier this year.

We believe the Government should have secured a better deal for Australian exporters.

Like Coalition backbenchers, we are disappointed that KAFTA did not deliver better outcomes for some agricultural sectors, including sugar.

We have concerns about the inclusion of an Investor State Dispute Settlement provision and about the agreements implications for copyright.

But Labor also recognises the benefits this agreement will deliver for Australias exporters.

Agricultural sectors which will benefit from opening up market access to Korea include beef, dairy, wheat, wine and horticulture these sectors employ more than 200,000 workers.

A majority of Labor members of Parliaments Joint Standing Committee on Treaties joined with Liberal and Nationals members today in supporting KAFTA and recommending that binding treaty action be taken.