High quality FTA in interests of 皇冠体育app and Australia: minister

Slides
Photos

(Xinhua)
Updated: 2009-11-24 16:14

Crean said while it is true that economies of 皇冠体育app and Australia are at different stages of development, an FTA would significantly enhance and deepen the trade and economic relationship to the benefit of both countries.

He admits the negotiations are "challenging" because 皇冠体育app has not previously negotiated an FTA with a country that has such extensive interests in agriculture, resources, services and investment.

However, the minister is confident that both sides are committed to working together in a positive and practical spirit to conclude the negotiations as rapidly as possible, including finding ways to overcome any differences and to negotiate a mutually beneficial outcome.

Referring to Vice Premier Li Keqiang's recent visit to Australia, Crean said the country was pleased to host a very successful visit to Australia by the Chinese Vice-Premier, Li Keqiang in October 2009.

"Li's visit produced a bilateral Joint Statement (the first since the establishment of diplomatic relations in 1972), and Memoranda of Understanding on education and training, combating illegal logging and protection of cultural property."

Although bilateral relations encountered some difficulties earlier this year, the relationship has been restored to an even keel and Australia is committed to building a mature, balanced long-term relationship with 皇冠体育app, based on shared interests and mutual respect, he said.

皇冠体育app is now Australia's largest trading partner. Total trade ( goods and services) with 皇冠体育app increased by 30 percent to A$83 billion($77 billion) in 2008-09, according to Crean.

"This dramatic expansion in our bilateral economic relationship reflects the complementarity between our two economies and the extent to which 皇冠体育app's prosperity is underpinned by Australia's energy and natural resources."

In Tuesday's interview, the minister also said, "皇冠体育app is also an increasingly important investor in Australia. Since November 2007, the Government has approved over 100 Chinese investment proposals worth almost A$40 billion dollars ($37 billion) . Australia sees 皇冠体育app's increased investment interest as a positive development that will benefit both countries."

Investment is, of course, a two-way street. Australia will continue to seek greater access for Australian investors in 皇冠体育app, including in the financial services sector and other areas such as mining and manufacturing, he said.

(For more biz stories, please visit Industries)

Previous page 1 2 Next Page