PACIA, the Plastics and Chemicals Industries Association has welcomed
the announcement by the Prime Minister the Hon Tony Abbott MP and Parliamentary
Secretary to the Prime Minister the Hon Josh Frydenberg MP, committing to reducing
red tape by accepting assessments already made by trusted international
regulators.
According to PACIA CEO Samantha Read, recognising the regulatory
outcomes of overseas regulators from trusted international jurisdictions such
as the European Union will reduce complexity and help facilitate the
introduction of newer, better and safer chemicals into the Australian market.
She explained that the introduction of newer products and technologies
facilitated through chemistry and already proven in application
internationally, has the potential to be a major stimulus for Australia’s
competitiveness, supporting jobs, innovation and investment. The Australian
chemistry industry is Australia’s second largest manufacturing sector,
contributing $40bn to Australia’s economy and directly employing over 60,000
people in skilled jobs.
She notes that the new products and innovations will have diverse
applications, including making agriculture more productive, sustainable and
profitable; reinvigorate advanced manufacturing industries; and enable new
medical technologies.
Observing that the benefits of reducing red tape will extend beyond the
Australian chemistry industry, Ms Read said that the move will also have significant
positive flow-on effects for the entire Australian economy.
According to Ms Read, the Australian chemicals and plastics industry
plays a critical enabling role, supplying inputs to 109 of Australia’s 111
industries. Reducing the regulatory complexity for the Australian chemistry
industry will multiply benefits throughout supply chains across Australia.
PACIA had earlier called for urgent action on balancing Australia’s regulatory
framework in the industry’s Strategic Roadmap, ‘Adding Value’, which documented
how the inefficient regulation of the Australian chemistry industry has seen
Australia miss out on the latest and safest technologies.
Reducing the regulatory complexity for this key industry will be a boost
to Australia’s reputation as an attractive market for investment and innovation
in chemistry, and improve its readiness to take advantage of emerging markets
in Asia. The industry is committed to working with governments to deliver a
balanced regulatory environment that protects workers, the community and the
environment while delivering a business environment that stimulates growth,
innovation and trade.