Australians will live with regret if the China-Australia free trade agreement (ChAFTA) is blocked by the deal's opponents, Australia's trade minister has warned.
Andrew Robb on Wednesday introduced legislation into the parliament that would legally allow the trade agreements of the ChAFTA to go ahead.
He said minimal changes to the nation's customs act, allowing Chinese goods to gain "preferential tariff entry" into Australia, would be made.
"Peoples' lives are at risk, jobs are at risk," Robb told the parliament, adding, "Failing to (approve ChAFTA) would be disastrous."
"We would rue the day if we throw up the opportunities sitting in front of us," he said.
He dispelled opposition and union concerns that Australian jobs would be at risk, telling the House of Representatives that the only amendment being made was to the Customs Tariff Act and not to any migration or employment laws.
"These quite modest Bills represent the only legislative amendments that the parliament will need to pass to allow the Government to bring ChAFTA into force," he said.
"This puts a lie to many of the actions we have seen, the misrepresentations, the mistruths, the deliberate scaring of people across the community that has occurred, led by the (unions) and others."
Robb said the deal would not only serve to kick-start the nation's economy, but it would create peace in the region.
He told parliament that the agreement was a key to Australia's future prosperity, especially considering the mining boom had ended.
He said he hoped "common sense" would prevail.
An ongoing inquiry into ChAFTA is expected to wrap up next month, while its report is due to be delivered to parliament on October 12.
The coalition government has previously envisaged the deal being approved by the end of December.
