China hails ‘substantial progress’ on trade ties with Australia
Following visit of Trade Minister Don Farrell, Beijing says it will work towards ‘more positive results’ amid continued push to enter trans-Pacific trade partnership.
China says “substantial progress” has been made on stabilising trade ties with Australia during high-level ministerial talks and the country is willing to work towards “more positive results”.
But Beijing continues to push for improved investment access in key areas, including critical minerals, and wants Australia’s support to gain entry to the trans-Pacific trade partnership.
Trade Minister Don Farrell returned from a two-day trip to China without concessions from counterpart Wang Wentao on the country’s $20bn worth of trade bans against Australian exports, but said he was encouraged at the positive direction of negotiations.
In a weekend statement issued after the ministers’ late Friday meeting, the Chinese Commerce Ministry said Beijing would work with Australia on resolving the nations’ trade disputes.
“The Chinese side is willing to work with the Australian side to jointly expand more areas of co-operation, and hopes that the Australian side can provide a good business environment and treat Chinese companies and products fairly and justly,” it said.
The Ministry said the meeting “sent an important signal for the improvement of Australia-China relations, and also heralded the stable development of bilateral economic and trade cooperation”.
Wentao accepted an invitation during the talks to visit Senator Farrell’s Clare Valley vineyard at a yet-to-be decided time, in a sign of the growing personal relationship between the pair, and Beijing’s willingness to set the bilateral relationship on a more positive path.
During the talks, Mr Wang “noted” Senator Farrell’s call for detained Australian citizens Cheng Lei and Yang Hengjun to be freed.
The Albanese government wants the Australians to be released ahead of a likely China trip by Anthony Albanese later this year.
Senator Farrell said the meeting represented an important step forward in resolving the trade issues between the countries.
“I achieved what I came here for — to find a pathway to resolve the remaining trade impediments,” he said.
Senator Farrell said Minister Wang confirmed China’s expedited review of its barley tariffs against Australia was on track, and “I reaffirmed that we expect a similar process to be followed to remove trade barriers for Australian wine”.
China slapped punishing tariffs on Australian exports including barley, beef, wine, lobster, coal and timber in 2020, after the Morrison government called for an inquiry into the origins of Covid-19.
China recently agreed to review the barley bans in response to the suspension of a World Trade Organisation challenge by Australia, setting a course for the sanctions on the commodity to be lifted, together with those on wine.
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