China, Australia agree on FTA

    Updated: 2014-11-18 07:52

    By Wu Jiao in Canberra and Zhong Nan in Beijing (China Daily)

    Comments Print Mail Large Medium Small

    Pact would cut tariffs, improve investment environment

     China, Australia agree on FTA

    Australian Governor-General Peter Cosgrove (right) stands with President Xi Jinping and his wife Peng Liyuan, as she holds a wombat, on the grounds of Government House in Canberra on Monday. Xi is on a three-day official visit to Australia. David Gray / Reuters

    China and Australia finalized negotiations on a landmark free trade agreement on Monday after nearly a decade of talks.

    The deal comes on the heels of the China-South Korean FTA agreement. It would give China an upper hand in regional economic integration as major economies compete for regional free trade arrangements.

    The deal is one of 23 agreed upon by the two countries on Monday as President Xi Jinping is on his first state visit to Australia. Australian Prime Minister Tony Abbott hailed Monday as a "historic day" for the country.

    Commerce Minister Gao Hucheng said that Australia would eventually reduce tariffs to zero on all goods imported from China, and China will remove tariffs on a vast majority of Australian goods.

    The FTA would cover more than 10 areas, including a simplified review procedure for investments, most-favored-nation treatment, favorable market access rules and market transparency.

    China is Australia's largest trading partner, with two-way trade of $130 billion in 2013. Australia is China's eighth-largest trading partner and an important source of the raw resources that China needs to sustain its development.

    China, Australia agree on FTA

    "The FTA development indicates a change from the past, ore-heavy pattern of bilateral trade, and has opened up a promising prospect for China-Australia cooperation in a host of other areas such as agriculture and animal husbandry," said Zhang Jianping, director of the International Economic Cooperation Institute of the National Development and Reform Commission.

    Because the two economies are highly complementary, Zhang said, China and Australia should keep up the momentum and roll out "more practical measures to build an ever-closer partnership".

    Australia has been keen to transition from a reliance on exports of minerals such as iron ore to expanding its food and agricultural exports to a growing Asian middle class, moving from a mining-based to a diversified export model dominated by its rich agricultural resources and well-developed service industry.

    The two countries also signed a deal to launch a renminbi clearing service in Sydney, another push for the use of the Chinese currency in international transactions.

    "The trade agreement would benefit Australia's agriculture and services industries in particular and lead to an increase in Chinese investment in the country," said Paul Bloxham, chief economist of Australia and New Zealand at HSBC Bank Australia.

    "This is a big deal. We think it will be a support for growth in the Australian economy," Bloxham said. "That's not a particularly positive story for coal, but a much more positive story for gas and potentially for uranium. That may be a bigger deal than a free trade agreement in terms of impact on the energy export sector."

    Contact the writer at zhongnan@chinadaily.com.cn

    Jiang Xueqing contributed to this story.

    China, Australia agree on FTA

    ...
    亚洲AV无码欧洲AV无码网站| 色欲狠狠躁天天躁无码中文字幕| 中文字幕av无码专区第一页| 亚洲精品无码MV在线观看| 少妇中文字幕乱码亚洲影视| 无码国产精成人午夜视频一区二区| 最近免费中文字幕mv电影| 天码av无码一区二区三区四区| 无码专区狠狠躁躁天天躁 | 99久久精品无码一区二区毛片 | 乱人伦中文无码视频在线观看| 久久久噜噜噜久久中文福利| 人妻系列无码专区久久五月天| 无码国产色欲XXXXX视频| 国产成人无码一区二区三区在线 | 中文字幕夜色资源网站| 国产 欧美 亚洲 中文字幕| 无码AⅤ精品一区二区三区| 91精品无码久久久久久五月天| 午夜福利av无码一区二区| 亚洲中久无码永久在线观看同| 免费无码H肉动漫在线观看麻豆| 最近2022中文字幕免费视频| 日韩乱码人妻无码中文字幕 | 人妻中文字幕乱人伦在线| 无码日韩人妻AV一区免费l| 国产乱妇无码大片在线观看| 精品无码久久久久久尤物 | 国产亚洲美日韩AV中文字幕无码成人 | 国精品无码一区二区三区左线| 亚洲国产精品无码专区影院 | 日韩免费无码一区二区三区| 亚洲精品无码永久中文字幕| 一本一道av中文字幕无码| 亚洲精品无码AV人在线播放| 无码日韩精品一区二区免费| 亚洲AV无码专区国产乱码电影 | 亚洲精品无码专区久久久| 亚洲AV永久无码区成人网站 | 国产精品一区二区久久精品无码| 国产a级理论片无码老男人|