Fed: Labor softens stance on FTA = 2

AAP General News (Australia)
02-19-2004
Fed: Labor softens stance on FTA = 2

"Until they (concerns) are all flushed out it's not possible to look at the national
interest balance sheet as to whether this is a net positive or a net negative for Australia,"

he said.

Mr Latham said the rise in the Australian dollar above US 80 cents meant the free trade
deal was worth less.

"The strengthening of the Australian dollar against the American currency means that
the net value, even in the most optimistic assessment of the trade agreement, is coming
down the whole time," he said.

"So those currency issues are very important and all our exporters need new government
strategies, particularly to get us into the Asian markets which are our major destination."

Mr Latham predicted exporters could be worse off under the trade deal with the US because
Australian credentials could be weakened.

"They could actually be worse off due to the fact that in global markets, Australian
credentials and access could be weakened out of this agreement," he said.

AAP sm/sb/sco/de

KEYWORD: TRADE US LATHAM 2 CANBERRA (REOPENS)

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