In a landmark move to boost economic ties, Australia has sent its largest-ever delegation to the China International Import Expo (CIIE), which began Tuesday in Shanghai. More than 250 Australian companies are participating, led by Minister for Trade and Tourism Don Farrell, marking a significant show of commitment to its trade relationship with China.
China has been Australia’s largest trading partner since 2009, with over a quarter of Australia’s export revenue coming from the Chinese market. Australian enterprises at the expo are showcasing a variety of products, including wine, beef, and milk, which have become popular exports in China. Australia, in turn, imports a substantial amount of industrial goods from China, underscoring the interdependence between the two economies.
In a meeting held on November 1, Chinese Vice-Premier He Lifeng met with a high-level Australian business delegation led by David Olsson, national president of the Australia China Business Council. Vice-Premier He emphasized China’s commitment to protecting the legitimate rights of foreign-funded enterprises, reaffirming China’s policy of high-level economic openness.
This reciprocal relationship is further underscored at the CIIE, where the Australian Trade and Investment Commission is actively promoting Australian products on its WeChat platform, aiming to attract the interest of Chinese enterprises and consumers. Australia’s commitment to fostering deeper economic ties is also evident in its participation in the upcoming 26th China Hi-Tech Fair in Shenzhen from November 14 to 16, where seven Australian companies will showcase their innovations.
Both Canberra and Beijing have expressed a shared interest in strengthening economic cooperation, a sentiment echoed by businesses on both sides.
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