The chief executive of Australia’s biggest rail business has praised the bipartisan support for the China Australia Free Trade Agreement, saying the deal will deliver growth to key parts of the local economy.
The Coalition received support from the Opposition for ChAFTA on Wednesday, ensuring the passage through parliament of enabling legislation.
Lance Hockridge, chief executive of Queensland-based rail haulage business Aurizon, welcomed the news.
“This will deliver the next level of economic development between the two countries,” he said, “a platform for more trade and more opportunity for Australian business.
“The benefits will be multi-dimensional, benefitting not only traditional exports such as resources but also the high-growth areas such as agribusiness, professional services, tourism and education.”
Hockridge has been a vocal supporter of ChAFTA for some time.
He addressed the issue at a China Business Council meeting in Brisbane in September, and Aurizon also supported the Business Council of Australia’s campaign for the agreement.
Trade and investment minister Andrew Robb praised the Opposition for supporting the deal, following a series of public and private arguments and discussions over the details and implications in recent months.
“Our discussions with Labor were both constructive and held in good faith, and shadow minister for trade and investment Penny Wong and her staff deserve credit for the work they have done on behalf of the Opposition,” Robb said in a joint statement with immigration and border protection minister Peter Dutton.
To come to an agreement, the sides had to strike a deal addressing foreign labour laws.
The laws will be amended to require employers seeking to sponsor skilled workers on 457 visas, to demonstrate that they have attempted to recruit local Australian workers first, Robb explained.
“This provision will apply to all work agreements, including those under the Investment Facilitation Agreement linked to ChAAFTA,” he said.
“It is important to note that labour market testing is indeed already a mandatory requirement under current government policy…”