Australia and the United Arab Emirates have agreed on the text of a free trade deal that removes tariffs on a range of Australian exports.The federal government is predicting a flood of new investment into Australia's critical mineral and clean energy sectors after sealing a free trade pact with the United Arab Emirates.
"We know how important it is to have diversified trading partners. More trade with more trading partners means more jobs for Australians… and a lower cost of living " Senator Farrell told journalists in Canberra.The government is also talking up the benefits for Australia's transition to net zero. "There's almost an imprimatur from both governments that investment is welcome, and I'm absolutely certain, because of the interest in the critical mineral space by so many countries, including the UAE, that we'll get lots and lots of extra investment there."The chief executive of the national employer association AiGroup Innes Willox praised the deal.
The Australian Meat Industry Council also welcomed the pact, with chief executive Patrick Hutchinson, saying it "sets a positive template for future trade deals across the region". "We do not support the government entering into this trade agreement while labour standards are not enforceable, while workers have no right to join independent trade unions and collectively bargain, and while the fundamental architecture of the kafala system remains in place."