The Australian Government’s strategy for northern Australia and several policy initiatives are assisting Seafarms Project Sea Dragon.
One of these new policy initiatives for developing Northern Australia is the A$5 billion Northern Australian Infrastructure Facility – which will provide concessional loans to suitable projects being developed in this region.
The Australian Government has also successfully finalised new Free Trade Agreements with a number of countries in the high growth regions of Asia, including China.
The China – Australian Free Trade Agreement will allow Australian businesses unprecedented access to the world’s second largest economy and will lead to significant reductions in tariffs for the Australian exporters.
Importantly in relation to Project Sea Dragon – the elimination of up to 8% tariffs on prawn imports within 4 years.
For further information please refer to Seafarms ASX announcements highlighted below:
• 19 June 2015 – SFG Northern Australia White Paper http://seafarms.com.au/asxannouncements/sfg-northern-australia-white-paper/