China is Australia´s top trading partner. This week, hundreds of businesses from down under are heading to China for the China Australia Business Week, eager to scan the horizon for investment opportunities and deals. The delegation is led by Prime Minister Tony Abbott as part of his broader North Asia visit and Minister for Trade and Investment Andrew Robb.
The phone lines are hot.
One of Australia´s biggest ever trade missions to China is on its way, aiming at drumming up business and investment.
They come for the China Australia Business Week, a push to strengthen Australia´s commercial ties with its biggest trading partner.
At the China Australia Chamber of Commerce, the goal is precisely to attract more businesses.
"It´s a show of force and an opportunity for many Australian CEOs to come here and help the government push for many things that have taken a long time to get through. The two big ones have always been mining and education. But there is a big portfolio of smaller industries, the industry I represent is healthcare and other industries like agribusiness and finance. It is important that everyone gets a show." Brendan Mason, Chairman of Austcham Beijing said.
Events will be held in Beijing, Shanghai, Chengdu and Guangzhou.
"It´s the first visit by Abbott, it´s a show of force, but I think we won´t really start to see a deals flow until in 2 or 3 years time." Tom Luckock, Partner of Norton Rose Fulbright said.
Bilateral trade has ballooned in recent years. Australian exports to China totaled a record 95 billion Australian dollars in 2013, up sharply from 73 billion in 2012.
In November, China and Australia agreed to accelerate their talks over a free trade agreement.
The Australian government is confident to reach conclusion soon.
Abbott set himself a one year deadline to strike a free trade deal with China when he was elected last September. But the deal still looks remote, after nine years of negotiations.
"Whether it will be signed in one year is anyone´s guess. But I actually don´t think it is so important whether it is signed or whether it is not signed, I think what is more important is the symbolism. The fact that there is a big focus on the Australia and China link, and because of that focus I think that we will see more Chinese investments in a broader range of sectors." Tom Luckock said.
The next step now is to go beyond just the import of Chinese consumables and the export of Australian natural resources such as iron ore.
Source: CCTV
The phone lines are hot.
One of Australia´s biggest ever trade missions to China is on its way, aiming at drumming up business and investment.
They come for the China Australia Business Week, a push to strengthen Australia´s commercial ties with its biggest trading partner.
At the China Australia Chamber of Commerce, the goal is precisely to attract more businesses.
"It´s a show of force and an opportunity for many Australian CEOs to come here and help the government push for many things that have taken a long time to get through. The two big ones have always been mining and education. But there is a big portfolio of smaller industries, the industry I represent is healthcare and other industries like agribusiness and finance. It is important that everyone gets a show." Brendan Mason, Chairman of Austcham Beijing said.
Events will be held in Beijing, Shanghai, Chengdu and Guangzhou.
"It´s the first visit by Abbott, it´s a show of force, but I think we won´t really start to see a deals flow until in 2 or 3 years time." Tom Luckock, Partner of Norton Rose Fulbright said.
Bilateral trade has ballooned in recent years. Australian exports to China totaled a record 95 billion Australian dollars in 2013, up sharply from 73 billion in 2012.
In November, China and Australia agreed to accelerate their talks over a free trade agreement.
The Australian government is confident to reach conclusion soon.
Abbott set himself a one year deadline to strike a free trade deal with China when he was elected last September. But the deal still looks remote, after nine years of negotiations.
"Whether it will be signed in one year is anyone´s guess. But I actually don´t think it is so important whether it is signed or whether it is not signed, I think what is more important is the symbolism. The fact that there is a big focus on the Australia and China link, and because of that focus I think that we will see more Chinese investments in a broader range of sectors." Tom Luckock said.
The next step now is to go beyond just the import of Chinese consumables and the export of Australian natural resources such as iron ore.
Source: CCTV
