China is Australia's largest trading partner; Canberra pushing for removal of trade impediments
Edited By WION Video Desk
Published: May 11, 2023, 06:00 IST | Updated: May 11, 2023, 06:00 IST
Australia's trade minister is all set to meet his Chinese counterpart in Beijing. As diplomatic relations stabilize, Canberra is pushing for the removal of all trade impediments. China is Australia's largest trading partner, with two-way trade in goods worth $195 billion in 2022 dominated by iron ore exports. Australia's trade minister & China's commerce minister will also be chairing a joint ministerial economic commission. The meeting was first held in 1986 but suspended since 2017 when ties began to deteriorate over diplomatic disputes. Australian exports to China were hit by trade curbs in 2020. And then, Australian journalist cheng lei was detained in Beijing on national security charges, after Australia called for an international inquiry into the origins of covid-19. Canberra had earlier barred Huawei from its 5g network over national security concerns. A defense shake-up announced last month will draw Australia closer to its security alliance partner, the U.S.
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