Sugar exports stable - for now - following Trump win

WITH more than 27,000 tonnes of sugar exported to America from Bundaberg this month, it is easy to see why alarm bells have rung after Donald Trump was elected president.

But despite a wild 24 hours during the final stages of the election, the outlook for raw sugar and Queensland producers is now more promising as the global sugar market returns its attention to the fundamentals of supply and demand.

Bundaberg Canegrowers chairman Allan Dingle said it was too early to tell what Mr Trump's victory would mean for Bundaberg.

And Member for Hinkler and Assistant Minister for Trade, Tourism and Investment Keith Pitt said the Trans-Pacific Partnership could still happen, despite the incoming president's opposition.

"We still remain hopeful, as you must do with trade negotiations, that there is some chance of the TPP passing through the lame-duck period,” Mr Pitt said.

"It's important we continue to maintain close ties with the United States, which we've had over many decades,” he said.

"They are our second largest trading partner and they are our largest source of foreign investment.”

The TPP would eliminate more than 98% of tariffs across the 16 Pacific Rim countries it covers, including tariffs on US$9 billion of Australia's dutiable exports.

Mr Pitt said the RCEP would encompass half of the world's population and almost $23 trillion worth of trade.

"This is why we have belts-and-braces policies - there is any number of trade negotiations underway right now, including the Regional Comprehensive Economic Partnership,” he said.

Mr Dingle said with all trade agreements still in place he was not concerned at this time and said it was a watch-this-space case.

"We will be keeping a keen eye on policy change and if there are any we hope they are only for the better,” he said.

Mr Pitt attended the latest RCEP negotiations in Cebu, in the Philippines, last week to look for ways to advance the negotiations between the ASEAN nations, China, Japan, Korea, India and New Zealand, particularly trade of goods and services and investment.

"Seeking commercially meaningful outcomes that deliver benefits to Australian business is our core focus,” he said.

Mr Pitt said trade negotiations can take a long time but the benefits were evident.

"Removing limitations to trade is a key priority for the Coalition Government in Australia's transitioning economy. Any agreement that expands trade and investment adds to regional prosperity and benefits Australia as new jobs are created.”