House of Assembly Fifty-Third Parliament, Second Session (53-2) 53 2 Parliament of South Australia House of Assembly published Question Time Trans-Pacific Partnership Agreement Trans-Pacific Partnership Agreement The Hon. P. CAICA House of Assembly Colton Trans-Pacific Partnership Agreement The Hon. P. CAICA (Colton) (15:01): My question is to the Minister for Investment and Trade. How can South Australia stand to benefit from the Trans-Pacific Partnership Agreement? The Hon. M.L.J. HAMILTON-SMITH House of Assembly Waite Minister for Investment and Trade Minister for Defence Industries Minister for Veterans' Affairs Trans-Pacific Partnership Agreement The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Defence Industries, Minister for Veterans' Affairs) (15:01): I thank the member for Colton for his question. Jobs are very important in every electorate. The Trans-Pacific Partnership Agreement provides a broader framework for cooperation in the Pacific region with a view to creating jobs. The agreement covers 12 nations, which comprise 40 per cent of global GDP and 35 per cent of South Australia's total exports. Currently our largest export markets to the region are the United States of America with $1.6 billion; Malaysia, $682 million; Japan, $502 million; and New Zealand, $436 million. These are all currently covered by existing bilateral free trade agreements but, according to information provided by the commonwealth government, the TPP will broaden and deepen our market access. Of particular importance will be agriculture and food products, currently worth $1.5 billion a year to the TPP region. Tariff eliminations in beef, dairy, wine and seafood are anticipated to be particularly lucrative for exporters to Japan, the United States, Mexico and Vietnam, amongst others. Arguably the biggest opportunities for our state and job creation lie within the advanced market access for services. There are opportunities that we are currently examining, and we welcome further disclosure from the commonwealth at the appropriate time regarding the TPP. This morning I met with Export Partnership Program grant recipient and participant in South Australia Business Month in China, the company, Micromet. The company first delivered their commercialised water management technology to Canada, and are now well placed to continue expansion into North America and other markets on the back of the advanced liberalisation of trade in our region. A recent survey of South Australian exporters conducted by the Department of State Development demonstrated that 85 per cent of exporters intend to enter new markets in the next two years. The same survey indicated very strong interest in the 12 nations represented in the TPP agreement. The South Australian government is willing and capable of supporting international business development under a range of important programs. The DSD will continue to provide support for new and existing exporters through our TradeStart program, the South East Asia Engagement Strategy and the Export Partnership Program. We will build on these programs by rolling out the North Asia and North Atlantic strategies in the near future to capitalise on the TPP opportunity. Next week I will be visiting, with others, prospective distributors and investors in Japan and South Korea. The Korea-Australia Free Trade Agreement and Japan-Australia Economic Partnership Agreement, which entered into force in December and January respectively, offer great opportunities for South Australian businesses prepared to have a go. I recently wrote to the trade minister, Andrew Robb, to congratulate him on his continuing to serve in this role. I look forward to meeting with him and my interstate colleagues next month at the trade and investment ministers' meeting in Darwin to hear of progress on the Australia-India Comprehensive Economic Cooperation Agreement and the opportunities for further collaboration between the commonwealth and South Australian governments to grow jobs by selling more of our goods and services outside the state. Mr Whetstone interjecting: The Speaker House of Assembly The SPEAKER: The member for Chaffey is warned. Deputy leader.