Business

Central Queensland to benefit from international trade deal

Professor John Rolfe from CQ University. Photo: Chris Ison / The Morning Bulletin
Professor John Rolfe from CQ University. Photo: Chris Ison / The Morning Bulletin Chris Ison

THE world's largest regional trade agreement, between 12 countries and covering 40% of the global economy, has been sealed eight years after negotiations began.

For one of the most export-focused regions in Australia, the Trans Pacific Partnership is likely to have a very positive effect on Central Queensland.

The TPP stands to eliminate more than 98% of trade tariffs and remove import taxes on about $9 billion of Australian trade.

Resource economist and CQUniversity Professor of Regional Economic Development John Rolfe (pictured) said trade agreements were generally very good for Central Queensland's export focus.

"This is good for agriculture, mining and, to a lesser extent, tourism," Prof Rolfe said. "CQU already has a strong profile in international education, so anything that frees up access for international students is helpful."

The Fitzroy and Mackay regions produce about a third of the agriculture in Northern Australia and Prof Rolfe says there is a lot of potential for growth.

He cautioned that the agreement was more than just new markets and building good relationships with overseas partners was important to make it work.

"What's missing is the higher prices and the trade volumes to underpin major new developments… free trade agreements will provide confidence for new investment and new developments," he said.

"So we need to give investors exposure to the region and interest them in joint ventures.

"People who have been here to visit or studied here are more likely to invest here."

Member for Capricornia Michelle Landry had pushed for a better deal for sugar growers who will receive a $13 million a year sales boost under the partnership.

"I am very disappointed we couldn't get more, but the blame for that lies firmly with the obstructionist United States sugar lobby, which has tried everything to stonewall the Australian industry," Ms Landry said.

"We support Obama with just about every global conflict in which the US asks for help, and yet they throw sand in our faces when it comes to returning the courtesy through opening up their agricultural trade markets.

"On one hand they say they want open trade with the Pacific, yet on the other hand, they are tight-fisted protectionists."

The Australian Parliament is likely to consider the deal before the end of the year. It would be effective by mid-2016 at the earliest.

Trade partners

The TPP is being signed between the US, Japan, Australia, New Zealand, Canada, Mexico, Brunei, Chile, Malaysia, Peru, Singapore and Vietnam

Topics:  john rolfe, tpp




$100m for Rockhampton's northern access

Work is underway on Bruce Highway in North Rocky. The Federal Government is spending $100 million. Bill Korte, Michelle Landry, Cr Rose Swadling pictured.

Busy freight corridor gets major upgrade

VIDEO: Paving the way in Quay St

Mayor Margaret Strelow looking at the laying of sandstone pavers on Quay Street.

Sandstone pavers are being laid as a footpath on Quay Street

Verbal abuse recorded on phone before stabbing: court

Generic Rockhampton Court.   Photo: Chris Ison / The Morning Bulletin

Verbal abuse recorded before alleged stabbing.

Latest deals and offers

Six decades of love celebrated

ALAN Bradshaw and Yvonne met when Yvonne (Henkel) was 16 years old; her father George Henkel invited Alan to her birthday party in Mount Morgan.


Get Set for Summer!

Win One of Ten Prize Packs
Learn More

Fishermen reel in a Classic catch

Jackson Slack with 2.2kg Coral Trout and 4.1kg Sweetlip at the Tight Lines Fishing Classic on Friday.

Fishermen line up to weigh-in big catch for Coast Guard Yeppoon

Taylor Swift dismissed from jury duty

Taylor Swift was dismissed from jury duty in a sexual assault case

Zumbo's Willy Wonka hat trick trips up Queensland brickie

Adriano Zumbo and Rachel Khoo with Zumbo's floating dessert in a scene from Zumbo's Just Desserts.

NOOSA'S Michael Basset asked to recreate floating chocolate dish.

John Lennon's killer denied parole for 9th time

John Lennon

John Lennon's killer has been denied parole for the ninth time.

FORGOTTEN CAP COAST: Why don't our beaches rate a mention?

What's wrong with this picture? A map of Australia's 101 Best Beaches fails to include the Capricorn Coast.Photo Contributed

POLL: The Capricorn Coast boasts beautiful beaches, which is best?

Mexican band takes aim at Trump

Disguised as unhinged narcotraficantes, the Mexican-American agitators of BRUJERIA captured the mood of the citys minorities with the bands infamous and widely banned 1993 debut, Matando Geros (Killing White People), quickly becoming the Spanish-language counterparts to early grindcore masters TERRORIZER and NAPALM DEATH.  Photo Contributed

'Satanic drug lord' band challenges Trump

Willy Wonka star, Gene Wilder dead at 83

A still of Gene Wilder in the 1971 film Willy Wonka and the Chocolate Factory

Social media has already lit up with tributes to the late actor.

Bunnings starts demolition of historic foundry buildings

Demolition works have started at the Toowoomba Foundry.

Lane and footpath closures will take place

Australia's most expensive balcony and it hasn't been built

Viridian Noosa.

How Noosa millionares' squabble could affect body corporates

Palm Lake Resort set to move in to Coast with 276 villas

Palm Lake Group has been given approval by Sunshine Coast Council to build a 276-villa over 50s resort and 120-bed aged care facility at the intersection of Caloundra Rd and Caloundra Mooloolaba Rd in Little Mountain.

New facility planned for Caloundra Rd

Warning for unit investors with price plummet prediction

The warning signs are flashing for one real estate sector in 2017 despite others performing the best they have in years and it's not going to be pretty.

One real estate sector looks set for a rocky 2017

Red hot property for sale

HOT PROPERTY: The building where Red Rooster sits on Musgrave St is for sale.

Musgrave St property up for sales

REVEALED: Pat Rafter's $18m Coast house on the market

Check out the photos of the Coast's most expensive property for sale