In today’s increasingly close global trade relations, the new progress in China-Australia trade relations has been highlighted. Recently, with the Chinese Ministry of Commerce announcing the end of the anti-dumping and anti-subsidy duties on imported wines originating in Australia since March 29, the trade barriers between China and Australia have been significantly reduced, this news has undoubtedly brought a wind to the Australian wine industry.

Meanwhile, information from the World Trade Organization (WTO) shows that China and Australia have reached a settlement agreed upon by both sides on the China Anti-Dumping and Anti-Subsidy Tax Measures on Australian Wine, further demonstrating the positive efforts and successes of both sides in resolving the trade dispute.

Rob Donelly, Business Ambassador of the Australian Embassy in China and General Manager of the Australian Trade and Investment Commission (Austrade), said the cancellation of tariffs was an important achievement for the Australian wine industry and Chinese consumers. He stressed that the return of Australian wine to the Chinese market will promote the common interests of Australian producers and Chinese consumers.

The trade chain responded quickly, with the first containers carrying Australian wines to China leaving Port Adelaide at the end of March. This dynamic symbolizes a new chapter in China-Australia trade relations and also provides a favorable starting point for the Australian wine industry to recover from the Chinese market.

This year marks the 10th anniversary of China-Australias establishment of comprehensive strategic partnership. In recent years, bilateral relations have experienced turmoil, but with the current Labour governments adjustment of China policy, bilateral relations have begun to change positively. In the economic and trade field, China has become Australias largest trading partner for 15 consecutive years, this position highlights the degree of close trade exchanges between the two sides.

China is Australia’s largest trading partner, and the two sides have extensive cooperation spaces in achieving common zero net goals, providing clean green products and international education.These cooperation opportunities will not only meet the needs of Chinese consumers and students, but will further deepen trade and cultural ties between China and Australia.