China, Australia sign MoU to strengthen Free Trade Agreement
First enacted in 2015, the FTA is approaching its 10th anniversary and has been instrumental in expanding trade and investment between the two nations. Over the past decade, the agreement has provided tangible economic benefits and fostered deeper bilateral cooperation.
China and Australia have signed an MoU to enhance the implementation and review of their Free Trade Agreement (FTA), nearing its 10th anniversary. The agreement aimed to deepen bilateral economic ties and conduct a joint review to explore areas for improvement. Both nations reaffirmed their commitment to adapt the FTA to evolving global dynamics and promote trade for long-term cooperation.
The newly signed MoU paved the way for a comprehensive joint review aimed at identifying potential improvements or areas for expansion, as reported by Chinese media.
Both the countries have committed to continued collaboration to ensure the agreement remains effective and responsive to evolving global and regional economic dynamics.
The review process will also seek to promote greater trade and investment liberalisation, offering stronger institutional support for the long-term development of China-Australia economic relations, added the media report.
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