Australia is hoping to build a free trade agreement (FTA) with China.
The FTA came into effect in December, cutting tarrifs across many economic sectors.
The China- Australia FTA has opened up even more oppertunities for trade and engagement between two countries.
Australian businesses are finding new markets and new oppertunities in China as it continues its transition towards a more consumer–led and services based economy.
The Chinese economy, undoubtedly the biggest customer for Australian exports, is absolutely crucial to the Australian living standards and is a reason for Australia’s recent success economically.
Australia is now in a key position to benefit from China, as it shifts its focus from manufacturing and can cater to the Chinese growing demand for education, tourism, health services as well as business services.
The trade visit comes amid a slowing of growth in the Chinese economy. A delegation of 15 corporate chief executives from each country will join a round table headed by a business council of the Australian and the Chinese Development Bank.