Foreign investment concerns loom large as Federal Trade Minister Andrew Robb talks up China free trade agreement

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Farmers look on as Federal Trade Minister Andrew Robb talks about the looming Chinese Free Trade Agreement. (Photo: Jeremy Story Carter)
ABC | 20 October 2014

Foreign investment concerns loom large as Federal Trade Minister Andrew Robb talks up China Free Trade Agreement



A mooted buy-up of 50 South West Victorian dairy farms by Chinese investors dominated an informal meeting between Federal Minister for Trade and Investment Andrew Robb and a group of local farmers.

Over 100 farmers and industry representatives descended on a dairy farm outside the town of Colac, where Minister Robb had come to spruik the looming Free Trade Agreement (FTA) with China.

Yet some farmers, like Greg Young, attended purely to voice their concern about the growing presence of foreign investment in their region.

’Maybe we’re better off keeping the dairy industry in Australian hands,’ said Mr Young.

He suggested his farm would receive little benefit from an FTA with China.

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Maybe we’re better off keeping the dairy industry in Australian hands. Dairy farmer Greg Young.
We’re not going to feel any effects of the FTA; we’re better off with the Australian dollar dropping three to four cents.’

Nearby dairy farmer Mick Maxwell disagrees.

’I hope he can get the deal done, it would be a great thing for us,’ said Mr Maxwell.

’We’ve seen what’s happened in New Zealand, where it’s brought a lot of income into there, and I’m sure the same thing will happen here.’

Negotiations continue over details of the FTA, but Minister Andrew Robb suggests an agreement is ’only weeks away.’

’There’s every reason to believe that we could complete it this year, but a deal is never done until it’s done, so I can’t give any guarantees,’ said Mr Robb.

He dismissed concerns surrounding the impact of increased foreign as a result of the China Free Trade Agreement.

’We have relied on foreign investment,’ he said.

’This has been a phenomenon that has been characteristic of Australia for 150 years or more.’

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- See more at: http://www.bilaterals.org/?foreign-investment-concerns-loom#sthash.enqohguA.dpuf
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