The International Trade Council (ITC) commends the Australian Prime Minister, Anthony Albanese, for raising concerns about trade "blockages" with Chinese President Xi Jinping during their recent face-to-face meeting on the sidelines of the G-20 summit in Nusa Dua, Bali, Indonesia.
The bilateral meeting between the leaders of Australia and China marks an important step towards addressing the challenges that have affected trade relations between the two nations. The discussions provide a platform for constructive dialogue aimed at finding mutually beneficial solutions.
The Australian government has been proactive in advocating for the removal of barriers that impede Australian exports, such as those impacting the beef, wine, seafood, wood, and coal industries. These obstacles have resulted in significant economic losses amounting to $13 billion annually.
Prime Minister Albanese described the meeting as successful, positive, warm, and constructive. While immediate resolutions were not expected, the ITC recognizes the importance of engaging in dialogue to foster understanding and explore opportunities for trade cooperation.
The ITC encourages both Australia and China to continue their efforts to strengthen bilateral relations, promote trade facilitation, and resolve trade-related issues. Building a stable and prosperous trade environment serves the fundamental interests of both countries and contributes to the development of peace in the Asia-Pacific region and the world.
The International Trade Council stands ready to support both Australia and China in their pursuit of a more robust and mutually beneficial trade partnership. We believe that open and fair trade practices are essential for sustainable economic growth and global prosperity.
The ITC emphasizes the significance of ongoing dialogue, understanding, and cooperation to overcome challenges and unlock the full potential of trade between Australia and China. We look forward to witnessing the progress achieved through continued engagement between the two nations.