Li offers Australia more open markets
2 nations against anti- globalization
China is willing to work with Australia to safeguard peace and stability in the Asia- Pacific region and continue to open up its market and promote bilateral economic and trade development, Chinese Premier Li Keqiang said on Thursday.
Li arrived in Canberra Wednesday for an official visit, the first trip by a Chinese premier to Oceania in 11 years.
Noting the sluggish global economic recovery and a rising anti- globalization and protectionist trend, Li said that China and Australia, as two influential countries, have forged a consensus, deepened cooperation, jointly sent a positive signal of facilitating trade and investment and fighting protectionism, and yielded more dividends driven by a free trade agreement.
“Since Australia heavily relies on foreign trade, China and Australia share common interests in the face of anti- globalization pressure,” said Su Hao, director of the Asia- Pacific Research Center at the China Foreign Affairs University.
Li’s visit reaffirms Sino- Australian cooperation on free trade, and serves as a reminder to the US ally to rethink its relations with the US, especially on regional peace, Su said.
The Australian government pushed ahead with the Trans- Pacific Partnership ( TPP) trade deal after the US pulled out, and is open to China joining the TPP. Su said the invitation from Australia also aims to pressure US President Donald Trump to reconsider his withdrawal.
China has remained Australia’s larg- est trade partner for the past eight years, with 2016 trade volume hitting $ 108 billion, according to China’s foreign ministry.
Australian Prime Minister Malcolm Turnbull welcomes deepening ties between Australian and China, and stressed the importance of stability in the Asia- Pacific, news outlet news. com. au reported.
“Free trade can only thrive in a peaceful and stable environment, which both our countries know well,” Turnbull said. “Australia and China have both benefited immeasurably from the stability in our region that has been underpinned by a rules- based international order.”
During Li’s five- day stay, he and Turnbull will hold the fifth annual meeting of the two prime ministers. They will also attend a forum on China- Australia economic and trade cooperation.
Both sides will discuss their free trade agreement, which took effect in December 2015, and ways to further boost bilateral cooperation in technology, trade and investment, energy, education and tourism.
The Financial Times reported that Australia has rejected a Chinese push for a formal alignment of Canberra’s AUD$ 5 billion state infrastructure fund with China’s Belt and Road initiative.
Liang Haiming, chief economist of the China Silk Road iValley Research Institute, told the Global Times on Wednesday that the memorandum may not be finalized during the visit, but is promising in the future.