Australia is set to bolster its trade ties with China, as Trade Minister Don Farrell announces progress in removing the last export barriers impacting Australian exports. Currently in China for the world’s largest import expo, Farrell is leading a delegation of over 250 Australian businesses, aiming to expand trade and diversify markets.
During his visit, Senator Farrell met with Chinese Commerce Minister Wang Wentao, discussing the resolution of trade restrictions on two Australian abattoirs, marking the final step in a lengthy trade standoff that affected billions of dollars in exports, including wine and barley. Farrell confirmed that China’s ban on Australian live lobsters could be lifted by Christmas, following a timeline agreed upon by Prime Minister Anthony Albanese and Chinese Premier Li Qiang.
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Farrell also highlighted Australia’s booming trade with China, which has reached $327 billion, with ambitions to grow this to $400 billion. “There is a trade expansion on the horizon after my meeting with Wang Wentao,” he noted, expressing optimism for increased sales both within China and globally.
On Monday, Farrell will attend the launch of an Australia-China joint winemaking and viticulture program in Shanghai, a partnership between the Australian Grape and Wine Association and China Alcoholic Drinks Association. This initiative, set to begin in March 2025, includes a training program for young winemakers as part of a broader cultural exchange.
Meanwhile, Chinese officials have recently audited the Australian beef industry, lifting restrictions on eight abattoirs while inspections continue on two others. Nationals Leader David Littleproud emphasized the importance of these inspections, urging China to demonstrate its commitment to improving relations by reopening its market to all Australian meat processors.
With more than 100 Australian companies debuting at the expo and 30 entering the Chinese market for the first time, Farrell encouraged businesses to leverage the opportunity not only in China but also in other global markets. This push for market diversification reflects Australia’s commitment to a robust and resilient trade future amidst strengthening ties with China.
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