By the Blouin News Business staff

Doing business is top priority for Australia and China

by in Uncategorized.

Australia's prime minister, Malcolm Turnbull. (Source: Nikki Malvar/flickr)

Australia’s prime minister, Malcolm Turnbull. (Source: Nikki Malvar/flickr)

Australian Prime Minister Malcolm Turnbull will arrive in Shanghai on Thursday to promote Australia Week, which has attracted about 1000 business executives interested in China. Later on Thursday he will fly to Beijing for a meeting with Premier Li Keqiang, and hold talks with President Xi Jinping there on Friday. Although the two countries are on opposite sides in the South China Sea dispute, their economic links are growing ever-stronger.

China is Australia’s largest trade partner, with total trade worth more than $114 billion per year, and that figure is sure to rise. A comprehensive FTA between the two countries went into effect in December, and early figures are already showing a surge in trade as tariffs fall. For example, in the first two months of this year, frozen beef sales to China rose 44% to $72 million compared with the same period last year, and sales of bottled wine climbed 122% to $109 million.

Turnbull’s trade visit —  the largest ever by an Australian leader — comes amid a changing…

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