The General Manager of ABARE's Agricultural Trade and Data Resources branch, Jammie Penm, said now is the best time to undertake international trade reform because the adjustment cost will be easier to accommodate.

“Removal of all tariffs on merchandise trade, including agricultural products, would bring significant benefits to Australia and the world economy,” Dr Penm told the OUTLOOK conference.

ABARE research indicates that agricultural exports in Australia could increase by around one third from their current value by 2025, if complete removal of merchandise tariffs is achieved.

Dr André Nassar, the Director-General of Brazilian Institute for International Trade Negotiations, told the conference that agricultural exports from Brazil to a number of Asian countries including China, Indonesia, the Philippines and India, have been increasing.

“Brazil has made significant progress in increasing its exports of soybeans, sugar and poultry to the Asian markets,” Dr Nassar said.

Brazil is a major world agricultural exporter and has been showing significant interest in promoting its exports to Asia.

The US Department of Agriculture"s Deputy Under Secretary for Farm and Foreign Agricultural Services, Ellen Terpstra, said the final outcome of the US farm bill process remains uncertain.

“However, the new farm bill is likely to include increases in administered support prices,” Ms Terpstra said.