Australia singles out China as key export market with 'largest ever' trade visit
In a piece written for News Corp, Steven Ciobo outlined Australia’s eagerness to continue the strong growth seen in trade between the two countries following the implementation of the China-Australia Free Trade Agreement (ChAFTA) at the end of last year.
"We are committed to such a large showing because China will remain our largest export market for the foreseeable future, and the China-Australia Free Trade Agreement will form the basis of a broader, more diverse commercial relationship for many years to come,” the minister confirmed.
Since its introduction in December 2015, the ChAFTA has already led to a promising surge in trade as tariffs begin to fall, according to the Australian Business Review, with two rounds of cuts already achieved.
Free trade
On the introduction of the ChAFTA in December last year, Australia's then Minister for Trade and Investment, Andrew Robb, said: “China, with its population of 1.4 billion people and rapidly rising middle class, presents enormous opportunities for Australian businesses well into the future.
“This historic agreement with our biggest trading partner will support future economic growth, job creation and higher living standards through increased goods and services trade, and investment."
Ciobo notes that since the ChAFTA’s implementation, Australia has seen “early signs of gains in shipments” of various consumer goods, including cosmetics.
Australian beauty in China
The Trade Minister says that Australia’s “clean and green” reputation, its innovative talent and its reliability all make it a favoured market for Chinese consumers and companies.
Beauty and cosmetics is one of the key industries singled out by the minister that has the potential to rise alongside China’s blossoming middle class.
The trade visit, Australia Week in China (AWIC), will see ministers and industry leaders looking to build "stronger commercial partnerships", according to Ciobo,
