AU Business Delegates Visit Beijing Since 2018, Attempt to Repair Economic Relationship

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Around 30 business delegates from Australia and China met in Beijing recently. The meeting was the first in-person dialogue since 2018. Both countries are looking to repair and deepen their economic relationships.

The business dialogue was held to coincide with the visit of Western Australia Premier Mark McGowan to Beijing. According to many experts, this move signifies the further thawing the trading relationship between both countries since Beijing imposed tariffs on Australian exports.

The two countries have had strong economic ties in several industries in the past, such as trading and services. However, they had a falling out when China imposed anti-dumping and anti-subsidy duties on Australian exports.

The G20 summit in Indonesia at the end of 2022 paved the way for Australia and China to revisit and repair their business ties. This year, the offshoot of the G20 summit meeting resulted in the AU and CN working on rekindling their economic relationship. The Australian government committed to further melting the frozen economic relationship with McGowan’s visit and the business dialogue.

McGowan added, “The 5th Western Australia-China Strategic Dialogue in Beijing was an invaluable opportunity to deepen ties with our largest trading partner. I had the chance to reconnect with Chinese business leaders from a range of industries and to have direct discussions about how we can continue to grow trade and investment.”

According to James Clarke, president of the Western Australia branch of the Australia China Business Council, the discussions during the meeting covered several sectors, including mining, renewable energy, advanced manufacturing, financial services and banking.

Clarke added that since the Chinese borders reopened last January, many Chinese business delegates visited Australia and vice versa. He further said that McGowan’s trip was a vital move to improve the economic relationship further. Many are hoping for the continued renewal of the countries’ relationship moving forward.

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