2. This agreement entrust improve Australias trade relationship with the worlds virtually dynamic and richest economy, it will significantly enhance Australias attractiveness as a destination for US investment allowing Australia to stay at the leading edge of growth and competativeness, for the exporting industry it will further adavnce in the foodstuff and increase export opportunities and secured historic Australian interests such as health, PBS, the audio-visual sector and our quarantine and nutriment safety regimes.
3. Duties on more than 97 per cent of US non-agricultural tariff lines (excluding textiles and clothing), cost $6.48 billion in 2003, will be duty free from day one of the Agreement.
We will direct have access for the first time to the US federal Government procurement market of $200 billion a year.
The 25 percent tariff on light commercial vehicles that previously kept the Australian utes out of the US market will be removed immediately.
The US auto market, worth $254 million for passenger motor vehicles for Australian exporters in 2003, is immediately set to grow further.
Our auto parts industry exports to the get together States, worth $495 million in 2003, will be boosted by the immediate elimination of tariffs.
The 50 percent tariff on merchant ship repairs and maintenance, part of the maritime protection cognise as the Jones Act, will be removed.
4. We have important commitments ensuring non-discrimination against Australian service suppliers in a market of almost ccc million people - a valuable improvement on the commitments we had from the United States in the WTO.
We have secured a robust manakin that should promote the mutual cognizance of qualifications in professional services. Problems with recognition of qualifications can be a major hindrance for the export of professional services.
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