Farmers are concerned over calls to harness Asian capital to boost the nation’s food production

Ben Peckham
Australian

FARMERS have demanded an overhaul of foreign investment rules ahead of any attempt to harness Asian capital to boost the nation’s food production.

Trade Minister Craig Emerson has outlined a plan to use Chinese and Indian investment to revolutionise Australian agriculture and capitalise on the region’s food security concerns.

But farmer and Liberal Senator Bill Heffernan said there was nothing to ensure foreign-owned corporations or joint ventures especially those involving state-run firms participated in Australian markets and were subject to the same requirements as domestic businesses.

He called for a complete audit of foreign investment in the sector before the door was opened to a fresh wave of foreign capital.

Read More: Farmers are concerned over calls to harness Asian capital to boost the nation’s food production

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