The Northern Territory news Wed 8 Mar 2017
The Northern Territory news; NewspaperNT
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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
News Corp Australia
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News Corp Australia
WEDNESDAY MARCH 8 2017 BUSINESS 17 V1 - NTNE01Z01MA TERRITORY cattlemen are hoping a free-trade agreement with Indonesia will help end uncertainty for their export businesses. Prime Minister Malcolm Turnbull met with Indonesian President Joko Widodo in Jakarta yesterday. The proposed free trade agreement was one of the issues on the table, with hopes a deal could be struck by the end of the year. Mr Turnbull said Australia had growing trade ties with Indonesia but they should be stronger. We are not trading enough with Indonesia and both sides recognise that and that is why the President and I have agreed that we will finalise the Indonesia and Australia economic partnership, our free trade agreement, if you like, by the end of the year, he said. Territory cattlemen have long been at the mercy of the volatile quota system that had seen Indonesia decide on a quarterly basis how much beef it wants to import from Australia. NT Cattlemens Association chief executive Tracey Hayes, who is in Indonesia, said the recent changes were a positive for the industry. If the regularity of com ments acknowledging the positive and genuine strength of relationship between our two leaders is anything to go by, completion of a trade agreement is looking achievable, she said. Recent changes to the live trade protocol, increasing export weights for cattle from 350kg to 450kg, is a win for the supply chain for both countries. That coupled with the validity of permits extended to 12 months, creates greater certainty and choice. From a producer perspective, expanded parameters for any market or commodity is a positive. It also leads to an increase in the available cattle for purchase by exporters. In 2015, Indonesia reduced its cattle quota from 250,000 to 50,000, citing economic factors. However many believe the de Indonesian free-trade to boost cattle market MATT CUNNINGHAM SKY NEWS cision was made following Australian criticism of Indonesia in the wake of the execution of Bali Nine drug runners Andrew Chan and Myuran Sukamaran. A switch to an annual system and the increase in the live weight for export has been negotiated and was announced during Jokowis visit to Australia last month. What we have also done is arranged to improve the access of Australian live cattle export so it will increase the weight, the age and the term of the permits, so that will enable more access to the Indonesian market for our beef industry, Mr Turnbull said. Indonesia has been struggling to keep up with demand for beef. Its recently allowed the importation of Indian buffalo meat, promoting concerns the inferior product is being passed off as Australian beef by some retailers. Ms Hayes has previously expressed concern at the impact of increased competition on Australian beef from other regions including South America. 18 DARWIN RETAIL IN FOR A SHAKE UP 32 WELFARE AND ROBOTICS BUSINESS SPECTATOR WEDNESDAY, MARCH 8 Livestock and Meat, January 2017 THURSDAY, MARCH 9 Industrial Disputes, December 2016 Managed Funds, Australia, December 2016 FRIDAY, MARCH 10 Housing Finance, Australia, January 2017 TUESDAY, MARCH 14 Overseas Arrivals and Departures, Australia, January 2017 THE WEEK AHEAD economic brief Australia's Prime Minister Malcolm Turnbull is greeted by Indonesia's President Joko Widodo during the Indian Ocean Rim Association (IORA) leaders summit in Jakarta, Indonesia 21 GOSSIP: STOP THE TAXPAYER WASTE Picture: Weekend home delivery and full digital access for only $7 per week. Min.Cost $28* Its your weekend. Enjoy it. 1800 031 353 ntnews.com.au/delivery * Digital Membership + WEEKEND Delivery to be billed the following min.cost $28 billed 4 weekly. Each payment, once made, is non-refundable, subject to law. Renewals occur unless cancelled in accordance with the full Terms and Conditions. Not in conjunction with any other offer. New customers only. Offer is only available where normal home delivery exists for NT residents and not where additional freight is ordinarily charged. Full offer terms and conditions apply see www.ntnews.com.au/subscriptionterms for full details.
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