Latest news with #China-AustraliaFreeTradeAgreement
United News of India
4 days ago
- Business
- United News of India
China, Australia sign MoU to review free trade agreement
Beijing, July 16 (UNI) China and Australia have signed a memorandum of understanding (MoU) on the implementation and review of China-Australia Free Trade Agreement, informed the Chinese Ministry of Commerce (MOC). The document was signed by Chinese Commerce Minister Wang Wentao and Australian Secretary of the Department of Foreign Affairs and Trade Jan Adams yesterday, the formality took place in the presence of visiting Prime Minister Anthony Albanese and Chinese Premier Li Qiang and Australian . Since its signing in 2015, the free trade agreement has significantly boosted economic and trade relations between the two countries. As 2025 marks the 10th anniversary of the agreement, the two countries will maintain close cooperation, continue high-quality implementation of the agreement, and jointly conduct a review to identify areas for further improvement or expansion, the MOC added. The FTA will enhance trade and investment liberalization and facilitation, providing a higher level of institutional support for bilateral economic and trade cooperation, the MOC said. UNI XC RKM
West Australian
4 days ago
- Business
- West Australian
Anthony Albanese defends Darwin Port stance from Great Wall of China, Australian businesses won't be iced out
Prime Minister Anthony Albanese has dismissed suggestions Australian businesses could be iced out of the Chinese market over the Government's decision to put the strategic port of Darwin back into Australia's hands. Chinese objections to Labor's election promise to overturn the awarding of a 99-year lease of the port to the Beijing-owned Landbridge group have loomed over Mr Albanese's red carpet reception in China this week, with state media repeatedly highlighting the controversy. Mr Albanese on Wednesday confirmed that the sale of the port had not been raised directly with him in talks with Premier Li Qiang or Chinese President Xi Jinping, who offered a rare lunch invitation to the Prime Minister and fiancee Jodie Haydon. Mr Li continued the charm offensive at a roundtable of Chinese and Australian business leaders in the imposing Great Hall of the People on Tuesday but alluded to the point of contention by urging Australia to create a 'non-discriminatory business environment.' 'We hope that the Australian side will treat Chinese enterprises visiting Australia fairly and properly solve the problems encountered by enterprises in market access, investment review, and other aspects,' Mr Li said. The Global Times, a state-run media outlet, was more direct. 'At present, there are specific issues between China and Australia that need to be discussed, such as the lease of Darwin Port and the expansion of the China-Australia Free Trade Agreement,' it said. 'There are also practical obstacles, especially the tendencies toward 'pan-politicisation' and 'pan-securitisation,' as well as interference from third parties,' it continued in an otherwise glowing account of Mr Albanese's trip so far. Asked during a press conference on the Great Wall of China on Wednesday if he was prepared for Australia to be put back into the deep freeze on the issue, Mr Albanese responded with a straight, 'the answer is no.' The Prime Minister's six-day trip has been centred on repairing business and trade ties after a diplomatic spat under the Morrison government triggered a series of damaging import bans on key commodities, which have since been lifted. Labor has stressed, however, that it will not budge over the cancelling of the Landbridge lease for national security reasons. Mr Albanese told reporters that this was a long held position 'shouldn't come as any surprise.' However, Chinese officials have long protested over changes made to the Foreign Investment Review Board under the previous Government after the port lease was awarded to a Chinese-state owned operator by the Northern Territory authorities. That decision was viewed by many at the time, including in Washington, as a strategic mistake that compromised national security. The Government has rejected Beijing's suggestions that Chinese companies are now being unfairly targeted by rules requiring greater scrutiny in sensitive investment areas. Ahead of Mr Albanese's trip, the Government indicated it would not be prepared to ease restrictions or to accede to Chinese requests for greater cooperation on artificial intelligence capabilities. 'We have a case by case issue when it comes to foreign investment,' said Mr Albanese. 'It is viewed not on the basis of any one country, but on the basis of an objective assessment of our national interest.' He added, 'One of the things that I emphasise - I say the same thing in Beijing as I say in Bankstown, which is that the Australian Government supports free and fair trade. It's in the interests of the world to have free and fair trade, and we'll continue to engage that way.' The Prime Minister also revealed Communist Party Chairman Zhao Leji had agreed to an invitation to lead a National People's Congress delegation to Australia. 'It is very clear that it is in our national interest for us to have a positive relationship with China, where there are differences, to talk about them, but not be defined by them,' he said.
AllAfrica
4 days ago
- Business
- AllAfrica
Xi: Ready to push China-Australia relationship further
President Xi Jinping told Prime Minister Anthony Albanese in their meeting in Beijing on Tuesday that China stands ready to work with Australia 'to push the bilateral relationship further.' During the meeting, Albanese raised Australia's concern about China's lack of proper notice about its warships' live fire exercise early this year. The prime minister later told journalists Xi had responded that 'China engaged in exercises, just as Australia engages in exercises.' The government's proposed sale of the lease of the Port of Darwin, now in the hands of a Chinese company, was not raised in the discussion. On Taiwan, Albanese said he had 'reaffirmed … the position of Australia in support for the status quo.' This was the fourth meeting between Xi and Albanese. The prime minister is on a six-day trip to China, accompanied by a business delegation. He is emphasising expanding trade opportunities with our biggest trading partner and attracting more Chinese tourists, whose numbers are not back to pre-pandemic levels. Albanese has come under some domestic criticism because this trip comes before he has been able to secure a meeting with United States President Donald Trump. In his opening remarks, while the media were present, Xi said the China-Australia relationship had risen 'from the setback and turned around, bringing tangible benefits to the Chinese and Australian peoples.' 'The most important thing we can learn from this is that a commitment to equal treatment, to seeking common ground while sharing differences, pursuing mutually beneficial cooperation, serves the fundamental interests of our two countries and two peoples. 'No matter how the international landscape may evolve, we should uphold this overall direction unswervingly,' he said. 'The Chinese side is ready to work with the Australian side to push the bilateral relationship further and make greater progress so as to bring better benefits to our two peoples.' Responding, Albanese noted Xi's comments 'about seeking common ground while sharing differences. That approach has indeed produced very positive benefits for both Australia and for China. 'The Australian government welcomes progress on cooperation under the China-Australia Free Trade Agreement, which has its 10th anniversary year. As a direct result, trade is now flowing freely to the benefit of both countries and to people and businesses on both sides, and Australia will remain a strong supporter of free and fair trade.' Albanese told the media after the meeting his government's approach to the relationship was 'patient, calibrated and deliberate.' Given that one out of four Australian jobs depends on trade and given that China is overwhelmingly by far the largest trading partner that Australia has, it is very much in the interest of Australian jobs, and the Australian economy, to have a positive and constructive relationship with China. Dialogue is how we advance our interests, how we manage our differences, and we guard against misunderstanding. President Xi Jinping and I agreed dialogue must be at the centre of our relationship. We also discussed our economic relationship, which is critical to Australia. We spoke about the potential for new engagement in areas such as decarbonization. Xi did not bring up China's complaints about Australia's foreign investment regime. Albanese said he raised the issue of Australian writer Yang Jun, who is incarcerated on allegations of espionage, which are denied. Premier Li Qiang was hosting a banquet for Albanese on Tuesday night. An editorial in the state-owned China Daily praised the Albanese visit, saying it showed 'the Australian side has a clearer judgement and understanding of China than it had under previous Scott Morrison government.' 'The current momentum in the development of bilateral relations between China and Australia shows that if differences are well managed, the steady development of ties can be guaranteed , even at a time when the political landscape of the world is becoming increasingly uncertain and volatile,' the editorial said. Australian journalists had a brush with Chinese security, when they were taking shots of local sights in Beijing. Security guards surrounded them and told them to hand over their footage. The incident was resolved by Australian officials. Michelle Grattan is a professorial fellow, University of Canberra. This article is republished from The Conversation under a Creative Commons license. Read the original article.
CNBC
6 days ago
- Business
- CNBC
Australia must try to keep working relationships with U.S. and China while 'being coerced' by both
Andrew Robb, former Trade Minister of Australia, says that Australian PM Albanese must continue to review and upgrade the China-Australia Free Trade Agreement.
Perth Now
08-07-2025
- Business
- Perth Now
Albo to meet Xi on six-day China trip
Anthony Albanese has stressed the importance of Australia's $325bn trade relationship with China ahead of his six day visit to Shanghai, Beijing and Chengdu, with the Prime Minister to meet with Chinese Communist Party President Xi Jingping and other senior officials. The centrepiece of the trip will be the Australia-China Annual Leaders' Meeting in Beijing which he will attend alongside Chinese Premier Li Qiang, and where he will also meet Mr Xi and Chairman of the National People's Congress, Zhao Leji – the third highest ranking person of the CCP. Discussions will be focused on global and regional issues, plus bilateral co-operation on areas including trade and tourism. China accounts for nearly 26 per cent of Australia's total goods and service trade. China will also raise desires to open the China-Australia Free Trade Agreement to include AI, healthcare, green energy and the digital economy. Anthony Albanese travel to China for the second time on Saturday. PMO Credit: Supplied Mr Albanese, who has faced criticism for failing to secure a meeting with US President Donald Trump before his face-to-face with Mr Xi, has defended the trip, saying he intended to 'continue to co-operate with China where we can' and 'disagree where we must, and engage in our national interest'. 'Trade is now flowing freely, to the benefit of both countries and to people and businesses on both sides,' Mr Albanese said. 'We will continue to patiently and deliberately work towards a stable relationship with China, with dialogue at its core. 'I will raise issues that are important to Australians and the region including my government's enduring commitment to pursuing Australia's national interest.' A 14-person business delegation will also accompany Mr Albanese at a Australia–China CEO Roundtable, which will be hosted by the Business Council of Australia and include leaders from industries representing banking, resources, tertiary education and food. This includes ANZ International's managing director Simon Ireland, BHP Australia president Geraldine Slattery, Fortescue Metals Group executive chairman Andrew Forrest, Rio Tinto chief executive Kellie Parker, SunRice chief executive Paul Serra and UNSW Vice-Chancellor and president Attila Brungs. BCA chief executive Bran Black said Australia's relationship with China was a 'partnership that matters deeply to our nation's success'. 'With one in four Australian jobs trade dependent, it's imperative that our businesses are part of the solution in identifying further opportunities with both new and existing partners,' he said. 'The Australia-China CEO Roundtable is a crucial forum for building an even stronger relationship with our largest economic partner, particularly in the resources, energy and services sectors.' Mr Albanese is also set to meet with business, tourism and sport leaders when he visits Shanghai and Chendgu, the latter which is home to the giant panda research base, which is where Adelaide Zoo acquired two new giant pandas, Xing Qiu and Yi Lan, in late 2024. This will be Mr Albanese's second visit to China.
