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Saturday, April 27, 2024
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WorldAsiaAustralia and China... Attempts at economic rapprochement after previous disagreements

Australia and China… Attempts at economic rapprochement after previous disagreements

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Farrell, in a statement from his office, said he would “strongly advocate the full and unhindered resumption of Australian exports to China”.

China is Australia’s largest trading partner, with two-way trade totaling $287 billion in 2022.

China recently resumed importing coal, cotton and copper from Australia, after a long, undeclared trade embargo.

Farrell said he would push for a review of tariffs on Australian barley and represented “the interests of Australian exporters and growers”.

China banned such imports in response to Australian government actions targeting alleged Chinese interference in Australian elections and the large Australian-Chinese community.

Despite improved economic relations, other aspects of relations between the two countries remain strained.

And Australian Foreign Minister Penny Wong said in April that bilateral relations were unlikely to return to the level of the early 2000s, when trade was divorced from political and strategic priorities.

Since then, Australia has expanded its security cooperation with the United States, China’s main rival for influence in the Asia-Pacific region.

Beijing has strongly criticized Australia’s participation in the so-called “Ocos” partnership, which linked it with the United States and Great Britain to the creation of an Australian fleet of eight submarines powered by American nuclear technology in response to China’s growing military ambitions in the South. China Sea, South Pacific Ocean and East China Sea.

Australian Prime Minister Anthony Albanese will host US President Joe Biden and the leaders of India and Japan, two countries with which China is embroiled in border disputes, at a May 24 summit of Alliance leaders Indo-Pacific known as the “Quad”.

Australia has also blocked the sale of assets to Chinese companies on national security grounds in recent years.

Farrell said he would meet Chinese Commerce Minister Wang Wentao after he pledged in February to promote dialogue “at all levels as a way to fully resume trade.”

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Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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