Moves to fast-track China trade deal
The West Australian, Perth
Moves to fast-track China trade deal
By Michael Sainsbury, The West Australian
16 July 2013
Kevin Rudd will accelerate efforts to stitch up a fresh trade deal with China ahead of the election and plans to send new Trade Minister Richard Marles to hold top-level talks in Beijing next week.
The Prime Minister will seek to further bolster ties with Beijing with the opening of Australia’s new consulate in the south-western metropolis of Chengdu by Foreign Affairs Minister Bob Carr the following week. It is Australia’s fourth diplomatic post in mainland China.
Mr Rudd and Chinese President Xi Jinping identified a free trade agreement between China and Australia as a high priority in a telephone call this month.
The move comes as China’s economic growth continues to slow, with the country posting a GDP growth figure for the second quarter of the year of 7.5 per cent, at the bottom end of the Chinese Government’s target for the year.
This will mean a slowing in demand for Australian commodities but with the Chinese services sector growing faster than the rest of the economy, a new trade deal could open up sectors for Australian companies, such as financial and health services.
The West Australian understands Mr Marles is due in Beijing on July 24 and will be accompanied by Department of Foreign Affairs and Trade secretary Peter Varghese, Australia’s top diplomat and one of Canberra’s most senior bureaucrats, though the minister’s office has not confirmed the visit.
Senator Carr will make a five-day trip to Hong Kong and Chengdu from July 26.
There has been no confirmation Mr Rudd has plans to visit China shortly.
He has visited Beijing regularly in the past 12 months. Two of his three children and only grandchild live there and he has given presentations at conferences.
The Australia-China FTA, a process begun in 2005, was revived by Mr Rudd during his first term as prime minister but no progress was made during Julia Gillard’s stint as leader.
