Australia-China FTA a stepping stone rather than an end point

Once an FTA is achieved, it is up to companies to use their wits to secure better market access and go for sources of growth in each other’s economies that a offer a long-term future.

Going from raw data the Australia-China trade relationship should be a source of celebration and congratulation. In 2013, bilateral trade came to A$140 billion, up 20% on the year before. Even better, unlike most other developed economies, the balance of trade was in Australia’s favour – two-thirds was exports, one-third imports.

There was an imbalance in the inward and outward investment figures too, though less dramatic, with Australia having slightly less than A$30 billion newly deployed in China, and China slightly more than the A$30 billion back in Australia.

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