Australia’s recently signed FTAs with China, Japan and South Korea will provide major opportunities for the state’s agriculture and food sectors, Ayres says.
With the state’s food exports valued at around A$4.6 billion, he believes there is considerable room to expand and grow markets, especially in China. Exports of beef and seafood have strong potential to grow along with wine, he adds.
Ayres says the strength of the state’s relationship with China cannot be understated. He refers to the report by KPMG and the University of Sydney mentioned by Baird in his speech to the forum. Seven of the eight biggest investments from China were in NSW, Ayres says, citing the report.
The relationship between NSW and China is a profound one, Ayres says, with two-way trade exceeding A$70 billion.
One area that has not been as buoyant as other sectors is tourism. Ayres admits that not a lot has been done in tourism infrastructure, but that is about to change, he says.
As one delegate pointed out during the conference, the last big push on tourism infrastructure happened in the 1960s, when the Japanese first started coming to NSW. It is now China’s turn to lead visitor arrivals to the state.
Ayres says the state is still the major destination of tourist arrivals to Australia, with 3.3 million visitors last year. By far the biggest group were the Chinese, who accounted for 19 percent, or more than 500,000, of tourist arrivals.