Korea opens market for Aussie beef

- Last updated on GMT

Related tags: International trade, World trade organization, Australia

Korea has removed the remaining trade barriers on the sale of
imported beef through Korean butcher shops; and according to Mike
Norton, acting president of the Australian cattle producer group,
this lift would provide Australian product with a fair go.

Korea has removed the remaining trade barriers on the sale of imported beef through Korean butcher shops; and according to Mike Norton, acting president of the Australian cattle producer group, this lift would provide Australian product with a fair go. "Up until now, Australian product sales have been limited to just 5,000 Korean outlets, operating as specialised imported beef stores,"​ Mr. Norton said. "The new system will allow product to be sold in 45,000 Korean outlets, providing a potential nine-fold increase."​ With the new legislation, record-keeping requirements will be removed. In the past, these requirements discriminated against imported products and allowed retailers to substitute imported beef for higher priced domestic product. "The Australian Government and beef industry fought hard through the World Trade Organisation (WTO) dispute settlement process, initiated by the United States and Australia, to remove a number of restrictions in the Korean market. Many beneficial changes have already been implemented,"​ he added. According to Mr. Norton, the "implementation of WTO outcomes, coupled with Australia's Chilled Beef Standards for the Korean market implemented last October, will provide a double benefit through enhancing the image and availability of Aussie beef in our third largest foreign market."

Related topics: Policy

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