SGGP
On October 22, Australian Prime Minister Anthony Albanese said that China has agreed to review tariffs on wine imported from Australia.
The move is seen as paving the way for Canberra to stop taking its dispute with Beijing to the World Trade Organization (WTO). “We welcome China’s agreement to promptly review its tariffs,” Albanese said in a press release, adding that the process is expected to take five months.
 |
China imposed import restrictions on Australian wine, barley, coal, etc. in 2020, after relations between the two countries deteriorated over a series of issues. So far, Beijing has lifted restrictions on coal and barley imports from Australia. According to Australian Government data, China is Australia's largest trading partner, accounting for nearly a third of the country's total trade turnover.
On this occasion, Mr. Albanese also announced plans to visit China from November 4 to 7. This will be the first visit to China by an Australian leader since 2016, marking an improvement in bilateral relations. Mr. Albanese emphasized: "I expect the visit will be an important step towards ensuring a stable and effective relationship with China."
Since taking power in May 2022, Prime Minister Albanese has tried to improve relations with China, which deteriorated under the previous administration of Mr. Scott Morrison.
Source
Comment (0)