SYDNEY: Australia’s trade minister flew to Beijing on Thursday (May 11) on a mission to demolish all Chinese import barriers after years of punishing sanctions and unofficial bans.
Trade Minister Don Farrell said he aimed to secure unrestricted commerce with China, Australia’s largest trade partner with a healthy appetite for its vast iron ore and coal resources.
“During my visit, I will be advocating strongly for the full resumption of unimpeded Australian exports to China – for all sectors,” he said in a statement on the eve of Friday’s meeting.
Farrell, who is to meet with China’s commerce minister, Wang Wentao, said fully reopening trade would benefit exporters and producers in both countries.
The meeting represents a “significant breakthrough” in rebuilding the relationship, said Australia China Business Council president David Olsson, who is with the Australian delegation.
It will be the first face-to-face meeting between the two nations’ trade ministers since 2019, he said.
“IMPORTANT STEP”
“We recognise that this won’t happen overnight, but the removal of the trade obstacles affecting Australian exporters would be seen as an important step in rebuilding confidence and trust,” Olsson said
China slapped hefty tariffs on key Australian exports such as barley, beef and wine in 2020, showing its readiness to leverage its economic muscle at the height of a bitter dispute with the former conservative government.
It also stopped imports of some of Australia’s most significant export commodities, including coal, curbing billions of dollars in trade.
China had been angered by Australia’s legislation against overseas influence operations, its barring Huawei from 5G contracts and its call for an independent investigation into the origins of the COVID-19 pandemic.
Australia retaliated by complaining to the World Trade Organization, alleging China had breached international obligations by artificially jacking up tariffs “without justification”.
Source: CNA
