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Australia, China See Opportunity in Free-Trade Pact

Posted November 14, 2014

Under Economic Issues, International Trade Issues

(Rob Taylor)

Long-Stalled Deal Gains Fresh Momentum as Countries Deepen Economic Ties

A free-trade pact between Australia and China likely to be signed within days is expected to provide new sources of growth for Australia, which is struggling to counter a rapidly slowing mining boom, while aiding China’s push for a broader role in regional trade agreements. […]

China has already become a major trading partner for many Asian-Pacific economies, sucking in raw materials—in Australia’s case, vast quantities of iron ore and coal. China last year swallowed up close to 40% of Australia’s exports, mainly commodities, making it the resource-rich nation’s biggest trade partner. Read more here.