Watch FIFA World Cup 2026™

LIVE, FREE and EXCLUSIVE

Asian deals must tackle mining tariffs

Australia must tackle a raft of tariffs on mining exports if it is to grasp the opportunities from a growing Asia, the Minerals Council of Australia says.

If Australia is to further expand its mining exports in Asia it must tackle a raft of barriers and fees when negotiating a series of trade deals in the region, the Minerals Council of Australia says.

New research conducted for the council has found Australia's mining export success story in Asia still has a long way to run.

It is already the economy's biggest export industry, worth $146 billion, with Asia accounting for more than 80 per cent of these exports.

The council's interim chief executive David Byers says as Asia's economies grow, they will increase investment in infrastructure, and resources and energy-intensive production activities, creating additional demand for Australian resources.

"As these economies develop their own resources sectors, there will be opportunities for Australia to export mining equipment, technology and services," he says.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

"However, realising these opportunities will require tackling a raft of trade barriers and other impediments."

Australia is in the process of negotiating free trade agreements with India and Indonesia, as well as being in discussion with the Association of Southeast Asia Nations to review the ASEAN-Australia-New Zealand deal.

In the first of a series of research papers, released on Wednesday, it found while tariffs on minerals and metals have fallen markedly across ASEAN, they remain high in India and this is compounded by a battery of border fees and charges.

Indonesia is also imposing significant new restrictions on foreign investment in mining, in a climate of growing economic and resources nationalism.

"Freeing up mining and mining services trade ... will boost growth and jobs in Australia while contributing to economic development and poverty reduction in our trading partners," Mr Byers said.


2 min read

Published

Source: AAP



Share this with family and friends


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world