Prime Minister Anthony Albanese is the first Australian Prime Minister to visit China in seven years. He states that it was long overdue that an Australian official visited Shanghai. It is in the best interests of both parties to engage in dialogue to strengthen bilateral ties and trade.
During his visit to the China International Import Expo, Albanese stated that Australia will continue strengthening ties with China. Chinese Premier Li Qiang was also present during his short speech.
Albanese is the first Australian head of state to visit China since 2016. Relations between the two nations rapidly deteriorated due to disputes over Huawei, espionage, and COVID-19.
Australian Trade Minister Don Farrell was also present at the Expo. Albanese claims Li and his comments at the Expo were “very positive” and that China will increase efforts to facilitate trade and imports.
Farrell met with his Chinese counterpart in Shanghai. According to the meeting overview, China will soon lift restrictions on Australian seafood and red meat.
Albanese describes the relationship between the countries as “mature.” He also states that complementary economies enhance the relationship between the two countries.
According to the official transcript, Albanese says, “Australia and China have prospered thanks to the certainty and stability made possible by rules-based trade."
Albanese took the chair of the Australian Prime Minister last year. Since taking over the office, he has worked towards stabilising ties with China. China has lifted the majority of trade restrictions imposed in 2020. The 2020 diplomatic dispute cost Australia a whopping AU$20 billion in commodity and food exports.
The World Trade Organisation (WTO) played a massive role in stabilising the economic ties between the two nations. The WTO was an independent and respected umpire that mitigated losses between the two countries.
Albanese will also address President Xi Jinping regarding the rising tensions in the South China Sea. He believes that open and honest trade talks with China will be in their best interest. It will also help Australia gain the backing of a massive trade partner.
Before arriving in China, Albanese stated that this visit was the first step in strengthening strained ties.
Reasons For The Disputes
The reason China imposed trade restrictions is that Australia demanded an investigation into the origins of the coronavirus and the COVID-19 pandemic. Recently, in a show of diplomatic faith, China resumed the imports of Australian coal, timber, and barley.
China had imposed up to 218% duties on Australian wine. It caused a total collapse of the wine industry in Australia. Wine is an important export product, and Australian winemakers faced setbacks.
Disputes Between Australia And China
One of the oldest disputes between Australia and China was over wine tariffs. China is the largest trade partner with Australia, and the wine tariffs decimated the wine industry. Albanese and his efforts to repair ties are appreciated, as stabilising ties will bring economic security to the country.
Albanese has vowed to resolve several issues with China, especially those regarding telecoms provider Huawei, espionage, and COVID-19.
Albanese wishes to resolve the WTO-mandated issue of wine tariffs. Resuming wine imports will allow the $800 million business to continue. Australia is also considering resuming the functioning of Chinese wind towers.
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