Australian Trade Min Urges China To Agree Free Trade Pact

The already close links between the economies of Australia and China underscore a need for China to develop the political will to complete negotiations for a comprehensive free trade agreement between the two nations, Australia's trade minister, Simon Crean, said late Wednesday.

The interdependency and complementarity between the two economies are strong, with China needing Australian raw materials and Australia needing Chinese manufactured goods, and this provides "a huge platform" from which to conclude an FTA, Crean said in an interview on Wuhan Television in China.

Asked what needs to be done to promote such an agreement, Crean acknowledged that there are technical issues and sensitivities that must be addressed. Moreover, negotiations for an FTA must define better what it is that both countries are trying to get out of the relationship.

"But in the end what it requires is the political will to conclude it," he said in a transcript issued here Thursday.

Crean has expressed frustration at the slow pace of the FTA negotiations, saying in March talks were "bogged down" just at a time when Australia wanted to develop a framework for a new economic partnership with China, which would include a framework for investment in an FTA.

"There will continue to be increased product movement in agriculture, in manufactured goods, but by far the biggest opportunities are the services and investment," he told Wuhan TV.

Australia's Foreign Investment Review Board currently is considering a proposed US$19.5 billion tie-up between Aluminum Corp. of China, or Chinalco, and Anglo-Australian miner Rio Tinto PLC (RTP).

The minister urged China to realize it is "important to open up both economies, to be encouraging of, not fearful of, each other."

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.