BCA Sees Albanese Meeting with Xi A “Tremendous Reset”

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Prime Minister Anthony Albanese and Chinese President Xi Jinping met on the sidelines of Bali’s recently concluded G20 Summit. According to the Business Council of Australia (BCA), the meeting was the start of the chance to rebuild relationships between the two countries.

Jennifer Westacott, BCA’s chief executive, told interviewers that the meeting was a win for Australia. The meeting was held after US president Joe Biden met Xi for the first time in his tenure. Westacott adds that this was the first meeting of Albanese and Xi in three years. It also allows for a ‘tremendous reset’ in the relationship between Australia and China.

“This creates an opportunity for business to come in behind that reset that the Prime Minister has done to start building those business-to-business relationships, to start driving investment, to start driving job creation, to start driving new industry formation,” Westacott said.

In a news conference, Albanese shared that “Australia seeks a stable relationship with China. We have big differences to manage, but we’re always better off when we have dialogue and can talk constructively, respectfully, and honestly.”

The prime minister also adds that their 30-minute meeting was a success and signifies the two countries are rebuilding their relationship. “It was a positive discussion. We put forward our position. It was not anticipated that a meeting such as that you get immediate declarations.”

Xi, in a statement on the state-run CCTV, acknowledged that there were difficulties in the China-Australia ties in recent years, but there are no fundamental conflicts between the two countries. The president also adds that there is a vast potential for trade cooperation. Xi adds that his country was ready to meet Australia’ halfway’, ending the diplomatic freeze between the two.

Though the meeting was a success, Albanese points out that there are still many actions to take as the two countries work together to rebuild their relationship.

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