Reported 7 months ago
Australian Trade Minister Don Farrell predicts China will soon lift the ban on live lobster imports, the last barrier for Aussie exports to China. This development is seen as a crucial step in stabilizing bilateral relations since the new government came to power in 2022. Previous disputes, including trade barriers imposed by China in 2020, cost Australian exporters significantly. With Chinese Premier Li Qiang's upcoming visit, prospects for improved trade relations are high, as reflected in the positive outcomes seen with the lifting of tariffs on wine and beef. The Australian Prime Minister also emphasizes the importance of normalizing relations, highlighting the significance of trade with China for the Australian economy.
Source: YAHOO