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Livestock and livestock products is a significant industry in Australia and accounts for one fifth of farm production while beef farms manage three quarters of all agricultural land.
The Australian federal government is very supportive of biotechnology and has committed considerable long-term funding to research and development.
The Australian Department of Agriculture has released the draft Biosecurity (Biosecurity Import Risk Analyses) Regulation 2015 (BIRA regulation) for public consideration.
Australia is the world's 12th largest economy, with nominal GDP of US$1.4 trillion and one of the highest levels of per capita GDP in the world.