“In over 200 years of primary production in Australia, free trade agreements have always been the golden goose,” he said last week.

“From the opening up of the wool industry based on British markets, to opening up iron ore and coal markets more recently, prosperity, investment and jobs have always flowed from strong agreements.

“Little is more important for agriculture and other exporters than a deal with China.”

Already, two-way trade between Australia and China stands at $150 billion a year.

China is our largest goods export destination at $95 billion in 2013. China is Australia’s largest services market at $7 billion in 2013.

More than 85 per cent of Australian goods exports will be tariff-free upon entry when ChAFTA comes into force, rising to 93pc in four years.

Some of these goods are currently subject to tariffs of up to 40pc.

On full implementation of the agreement, 95pc of our exports to China will be tariff-free.

“If you are a meat producer near Yass or Goulburn, a cherry producer at Young, a dairy farmer near Cowra, or mining coal at Tahmoor, this is fantastic news,” Mr Taylor said.

 “The key now is to grow these markets as quickly as possible.

“Together with the Japan-Australia Economic Partnership Agreement and the Korea-Australia Free Trade Agreement, ChAFTA rounds out a hat-trick for the Abbott Government in securing a path to greater economic prosperity for Australia.”