Albanese Says Australia to Focus on Restoring Trade With China

(Bloomberg) -- Australia aims to continue to boost relations with China as it seeks to fully restore trade ties with its largest export market.

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“China is our major trading partner, and we’ve worked to change the relationship,” Australian Prime Minister Anthony Albanese told reporters Saturday in Townsville, Queensland. “We believe that it is in both our countries’ interests to continue to develop more positive relations.”

New coal import deals have been struck this month after China’s authorities signaled an easing of an informal ban on Australian cargoes, imposed in 2020 as relations soured over issues including the origins of the coronavirus pandemic. Other measures continue to hamper trade in everything from lobsters to wine and timber.

“It is in Australia’s interest to be able to export without any impediments to China,” Albanese said. “It’s also in China’s interests to receive those exports from Australia.”

Since the election of Albanese’s Labor government in May ties have stabilized, with top officials from both sides meeting for the first time in years. Albanese met with Chinese President Xi Jinping in November at the Group of 20 summit in Bali, while Foreign Minister Penny Wong traveled to Beijing in December.

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