The much anticipated China Australia Free Trade
Agreement (ChAFTA) was announced earlier today. ChAFTA secures
Australia's competitive position with our largest trading
partner and lays the foundation for a deeper and stronger long-term
strategic partnership.
It's a major step forward, sending a strong and unmistakable
message that Australia is committed to developing a deeper
engagement – economically, politically and socially –
with China, and vice versa.
This is the first agreement that China has concluded with a
developed economy and the most comprehensive compared to any other
nation. While some industries and products may have missed out, it
is important to look at the big picture and remember that
today's announcement is not an end-point, but rather a base
from which to build on. Australian businesses have been granted
unprecedented access to the fastest growing markets in the world,
unlocking billions of dollars of exports.
