QUESTIONS WITHOUT NOTICE

Senator FARRELL (South Australia—Minister for Trade and Tourism, Special Minister of State and Deputy Leader of the Government in the Senate) (14:55): Thank you, Senator Ciccone, for the question and the great work that you do for the people of Victoria. This is a good deal for Australia—for our exporters, our workers and our industries. It will give Australian businesses access to hundreds of millions of consumers across 27 countries and to an economy worth trillions of dollars.

In practical terms, it's not just one market; it's 27 new markets, each with different tastes and opportunities for Australian producers. From its entry into force, nearly 98 per cent of Australian exports to the EU will enter tariff free, delivering benefits worth billions of dollars in the first year alone. By removing prohibitive trade barriers, the agreement will create major opportunities for South Australian fishers, Queensland pineapple growers, New South Wales sheep farmers, Victorian prosecco producers and many, many more.

Australian families will also benefit from cheaper European products at the checkout, helping to put downward pressure on prices and ease cost-of-living pressures. When this agreement comes before the parliament next year, there will be no rational reason to stand in its way.