Australia to coast on the milky way to export boom
The China Australia Free Trade Agreement, which took effect on Dec 20, promises to boost the dairy industry in both countries through fresh investments, tie-ups and joint ventures.
Dairy is important for China. The country imported over 2 million tonnes of it worth $7.2 billion, which makes it the world's largest importer of milk products.
China's dairy import volumes have increased by over 70 percent since 2010-11, according to Charlie McElhone, group manager, trade and strategy, Dairy Australia, the body of dairy farmers and the industry. The FTA could help the dairy industry in both countries to collaborate and meet surging global demand, he said. "That China is now the No 1 export market in terms of dairy volumes is very important for Australia's dairy industry as well as bilateral ties."
