🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Australia confident China will lift all trade blocks next month

Published 11/14/2023, 05:53 PM
Updated 11/14/2023, 05:56 PM
© Reuters. Flags of Australia and China are displayed in this illustration picture taken May 11, 2023. REUTERS/Florence Lo/Illustration

SYDNEY (Reuters) - Australia said on Wednesday China could lift all its remaining trade blocks by next month as relations between the commodity trade partners stabilise and after Prime Minister Anthony Albanese's visit to Beijing earlier this month.

Albanese's government has taken credit for patching up ties with China since coming to office last year. China has lifted most trade blocks imposed amid a 2020 diplomatic dispute after Australia called for an inquiry into the origins of COVID-19.

"I remain very confident ... that by Christmas all of these trade impediments will be removed," trade minister Don Farrell told ABC Radio from San Francisco, where he is attending Asia-Pacific Economic Cooperation (APEC) meetings.

© Reuters. Flags of Australia and China are displayed in this illustration picture taken May 11, 2023. REUTERS/Florence Lo/Illustration

"And we will have restored that stable relationship that we want with our largest trading partner."

Farrell said he hoped to resolve the issues over lobster and beef, which related to bio-security rules, ahead of a meeting with Chinese counterpart Wang Wentao in San Francisco.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.