Transcript: Opportunities for Australian businesses under the China-Australia Free Trade Agreement
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The China-Australia Free Trade Agreement is a landmark agreement that gives Australian companies unparalleled access to the world’s second largest economy.
ChAFTA greatly enhances Australia’s competitiveness in key sectors such as agriculture, resources, energy, manufacturing exports and services.
Australian-made brands are well respected in China and Australian producers and service providers will find a large and receptive market for their premium-quality offerings.
ChAFTA progressively reduces and eliminates tariffs on a range of food products that are in demand by China’s growing middle class. This includes beef, sheepmeat, premium seafood such as lobsters and abalone, horticultural products and processed foods.
The rising level of disposable income in China means there are a significant number of people who are prepared to pay for high-end goods and services.
There are strong prospects for Australian financial services firms under ChAFTA. Both China and Australia have identified areas of co-operation, including encouraging Australian private equity firms to invest in China.
Despite fast rising prices, China’s demand for Australian resources and energy will continue in the long term. CHAFTA will strengthen China’s position as Australia’s largest export market for energy and resources.
Austrade’s team of bilingual business development managers can introduce you to potential customers and partners. They have worked in the market and can provide advice on where the best opportunities are.