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During Chinese Premier Li Qiang’s official visit to Australia from June 15 to 18, the two sides concluded a series of cooperation agreements in the fields of economy and trade, people-to-people exchanges and other areas.
A statement on the joint results of the China-Australia annual leaders’ meeting has been issued. Australian Prime Minister Anthony Albanese called the visit a “very important step” in stabilizing relations between the two countries.
China and Australia benefit from economic complementarity and are natural partners. China has remained Australia’s largest trading partner, largest export market and largest source of imports for 15 consecutive years. In 2023, trade between the two countries reached $229.2 billion, with almost 80% of Australia’s trade surplus coming from trade with China.
Last March, China ended anti-dumping and anti-subsidy duties on imports of Australian wine. In April, Australia exported some A$86 million worth of wine to China, surpassing sales in the previous three years.
According to Australian officials, the Chinese market offers a “fantastic future” for the Australian wine industry. »
During this visit by the Chinese premier, the signing of the memorandum of understanding to promote the implementation of the China-Australia free trade agreement has become a highlight of bilateral economic and trade cooperation.
The China-Australia Free Trade Agreement came into effect in December 2015. It is the first high-level free trade agreement signed between China and a major developed Western country. The document significantly lowered the threshold for bilateral trade and investment, established a more open, convenient and standardized institutional arrangement for the development of economic and trade relations between China and Australia, and strongly promoted their economic and trade exchanges.
At a time when trade protectionism is gaining ground around the world, the signing of this memorandum of understanding between China and Australia will not only help both parties continue to implement their free trade agreement, but will also demonstrate their determination and efforts to promote the construction of an open global economy.
On the occasion, China also expressed its willingness to actively develop cooperation with Australia in areas such as new energy vehicles and renewable energy generation, which will inject new impetus into bilateral relations.
As countries in the Asia-Pacific region, China and Australia do not have a fundamental conflict of interests, but rather share a broad consensus. They should therefore coordinate and cooperate to maintain regional peace and stability.
In recent years, as the United States has engaged in strategic competition against China and lured allies in the Asia-Pacific region to bring about bloc confrontation, friendship and cooperation between China and Australia were disrupted.
It is worth noting that Prime Minister Albanese recently wrote in an article that the true measure of foreign policy strength is the ability to effectively manage differences, not the ability to create confrontation. Serve as a pawn of the US to contain China or perceive China rationally based on its own interests? Clearly, the Australian policy community already has an answer.
Common wills remain united beyond seas and mountains. Although separated by vast oceans, China and Australia are closely linked by the bonds of history and reality. After experiencing twists and turns, China-Australia relations have gradually gotten back on track. Strong and stable relations between China and Australia serve the common interests of the two peoples and are conducive to maintaining regional peace and stability.