Australia-China Trade Relations Strengthened

by Bob Sheth on June 2, 2010

in Money, Business and Finance

Australia and China have a long history. In a report from the Asian Studies Program of La Trobe University in Victoria, Chinese traders were already visiting the north coast of Australia since the 1750s.

Today however, China’s vast market has been the target of most of the industrialized world and Australia is no exception.

The Australian government is strengthening its ties with China through bilateral trade relations particularly in the agricultural industry.

According to the Rudd Government, Australia would be providing support for six agricultural delegations that will visit China to explore market opportunities for products such as wild and farmed eels, mangoes, timber, livestock, grapes and Chinese red dates or jujubes.

Minister for Agriculture, Fisheries and Forestry Tony Burke recently announced that the six successful projects are covered under the latest round of Australia’s agribusiness program with China, together with the Australia-China Agricultural Cooperation Agreement (ACACA) programs.

For the next 18 months, six delegations will visit China to stay for up to two weeks at a time with the aim of establishing new contacts and the development of export opportunities.

Mr. Burke said, “China is a major trading partner of Australia. In 2008-09 we exported around $3.4 billion in agricultural goods with strong growth in canola, live animals, fish, edible products, wine and meat.”

This year, he said in a press statement, that the agricultural delegations would explore export opportunities for Australian livestock, eels, Chinese red dates, mangoes and grapes.

“This kind of on-the-ground collaboration gives the project teams invaluable insight that can really make the difference on how they approach the Chinese market,” Burke added.

The ACACA program is jointly managed and funded by Australia’s Department of Agriculture, Fisheries and Forestry and China’s Ministry of Agriculture.

Since the ACACA program was established in 1984, with more than 200 delegations that have been funded in agricultural sectors such as beef, wool, dairy, horticulture, fisheries, forestry and food safety.

The next funding round for 2011-12 will be advertised in late 2010. For information on how to apply visit this site.

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