October 10th 2024.
The prime minister, Anthony Albanese, has announced that lobster exports to China will be resuming by the end of this year. He made the announcement while attending the ASEAN Summit in Laos, where he struck a deal with Chinese premier Li Qiang to lift the trade restrictions that have been facing rock lobster fishers for the past four years.
Albanese shared that through a patient, calculated, and careful approach, he was able to restore Australian trade with its largest export market. He also mentioned that he and Qiang discussed the possibility of restarting exports of Australian live rock lobsters. This news comes as a relief to the lobster industry, as they have been working tirelessly to have the trade impediments lifted.
The prime minister explained that the removal of trade barriers was a gradual process, with each impediment being addressed one by one. He also acknowledged the considerable growth in Australian exports to China, including wine and barley, which have now surpassed pre-impediment levels. This news has been met with much excitement, as it could result in a significant price increase for lobster in Australia.
Albanese and Qiang have agreed on a timetable to resume full lobster trade between Australia and China by the end of 2024, just in time for Chinese New Year. This is expected to have a positive impact on the live lobster industry, particularly in regional areas such as Geraldton, South Australia, and Tasmania.
The prime minister also noted that this move towards resuming lobster exports was a step towards improving the relationship between Australia and its largest trading partner, China. In 2020, China imposed a ban on lobster imports from Australia due to concerns over contamination, which the industry has strongly denied.
Kyriakos Toumazos, an executive of the South Australian Northern Zone Rock Lobster Fishermen's Association, expressed his excitement over the news, stating that the China market was worth approximately $550 million per year before the restrictions were put in place. This resumption of trade could potentially have a significant economic impact on the lobster industry and the country as a whole.
In conclusion, the resumption of lobster exports to China is seen as a major win for Australia, its economy, and the lobster industry. With a gradual and careful approach, the prime minister has managed to lift trade barriers and restore relations with their largest trading partner. This news has been met with much enthusiasm and anticipation, and it is hoped that it will have a positive impact on the country's economy.
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