cargo ship near port

Australia Anticipates Full Easing of Trade Barriers with China by Next Month

Australia anticipates that China could lift all remaining trade protectionist measures within the coming month, following recent positive developments in the bilateral relationship between the two countries. The optimism stems from the stable nature of their commodity trading partnership and follows Australian Prime Minister Anthony Albanese’s visit to Beijing earlier this month.

Under the leadership of Prime Minister Albanese, the Australian government has actively worked towards reconciling tensions with China, culminating in significant strides in repairing diplomatic rifts that emerged last year. Notably, China has already lifted the majority of trade barriers imposed on Australian exports in 2020 during a diplomatic fallout triggered by Australia’s call for an investigation into the origins of the COVID-19 pandemic.

Australian Trade Minister Don Farrell, speaking from San Francisco at the Asia-Pacific Economic Cooperation (APEC) summit, expressed confidence in the ongoing negotiations. He stated, “I remain very confident that these trade barriers will disappear by Christmas. And we will restore the stable relationship we need with our largest trading partner.”

Addressing specific concerns, Minister Farrell highlighted hopes for resolving issues surrounding Australian exports of lobster and beef, which have faced constraints due to biosafety regulations. Ahead of an upcoming meeting with Chinese Commerce Minister Wang Wentao in San Francisco, efforts are underway to address these specific trade impediments.

The positive trajectory in Australia-China relations signals a potential milestone in the restoration of unhindered trade ties, fostering optimism for a return to smoother trade flows between the two significant economic partners.

Leave a Reply

%d bloggers like this: