June 13th 2024.
The Australian Trade Minister, Don Farrell, is optimistic about the future of Australian exports to China. He believes that the final hurdle - China's ban on live lobster imports - will soon be lifted, especially after Chinese Premier Li Qiang's upcoming visit to the country. This would be a significant achievement for the Australian government, as they have been working towards stabilizing bilateral relations since they came into power in 2022.
The ban on lobsters was just one of the many trade barriers imposed by China in 2020. These barriers, both official and unofficial, affected various Australian products such as beef, barley, coal, wood, and wine, causing major losses of approximately $20 billion per year for exporters. The strained relations between the two countries were further aggravated when the former Coalition government demanded an independent investigation into the origins of the COVID-19 pandemic and China's response to it.
Minister Farrell stated that Li's visit as the first Chinese premier in seven years on Saturday will pave the way for the removal of the final trade barrier on lobsters. He expressed confidence in the willingness of both parties to rectify the issues in their relationship. The ban on lobsters is the only remaining barrier after China lifted tariffs on Australian wine in March and restrictions on Australian beef in December last year. Farrell believes that Li's visit will be a success for lobster producers.
Li will be accompanied by Chinese Commerce Minister Wang Wentao during his visit to Adelaide, Canberra, and Perth from Saturday to next Tuesday. Australian Prime Minister Anthony Albanese, who was the first Australian government leader to visit Beijing in seven years back in November, considers Li's visit as a symbol of the normalization of relations since the current government came into power. He emphasized the importance of restoring trade, which contributes to one in four Australian jobs and one in four export dollars.
Minister Farrell made these remarks while attending the 130th-anniversary celebration of Wirra Wirra Vineyard in South Australia, which is also a winery. He mentioned that since China removed the tariffs in April, $86 million worth of Australian wine has been exported, which is more than what was sold in the previous three years. Before the tariffs were imposed in 2020, Australia was the source of almost 40% of China's imported wine and a market worth $1.24 billion per year for exporters.
While the trade relationship between the two countries is showing signs of improvement, the security relationship seems to be more strained. This is due to Australia's support for the United States' efforts to counter China's growing influence in the Asia Pacific region. Prime Minister Albanese plans to discuss with Li the recent clashes between Australian and Chinese forces in the South China and Yellow seas. He also reiterated Australia's call for the release of Australian blogger Yang Hengjun, who is currently imprisoned in Beijing.
In conclusion, the visit of Chinese Premier Li Qiang to Australia is seen as a significant step towards restoring bilateral relations and resolving trade issues between the two countries. The Australian government is optimistic about the future, especially with the potential lifting of the ban on live lobster imports and the restoration of the wine trade with China. However, there are still tensions in the security relationship, which will also be addressed during Li's visit.
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