Australia to sign FTA with China this year
China and Australia are expected to sign a landmark free trade agreement in the second quarter of this year and implement it from the fourth quarter onwards, an Australian official said onWednesday.
Both nations concluded the FTA talks in November and are expected to sign an agreement after completing the legal review and translation of the text, said Lachlan Crews, economic counselor of the Australian embassy in China.
After the necessary domestic formalities are completed, the two nations will work on the diplomatic measuresthat are necessary toimplement the agreement, he said, adding that a suitable date for implementation would be fixed subsequently.
President Xi Jinping and Australian PrimeMinister Tony Abbott had witnessed the signing of the declaration of intent on concluding the FTA talks in Canberra inNovember.