Australian business leaders hopeful as Albanese heads to China to stabilise trade ties and meet Xi Jinping
Australian business groups are “cautiously optimistic” a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing.
The Prime Minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders.
Australia China Business Council president David Olsson said the relationship between the two nations has had an “incomplete recovery” with a changing market in China.
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By continuing you agree to our Terms and Privacy Policy.“While everyone’s cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that’s why these regular government to government dialogues is just so important,” he told AAP.
“We have to stop seeing risk and opportunity as opposites and the challenge for Australia generally, is to engage with China in a way that’s both commercially smart and politically durable.
“We need to keep this relationship going. So we have to sit back and think very carefully about how we’re going to manage the risks that we see in the world at the moment in a way that serves our national interests.”
Mr Albanese will meet with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues in addition to trade and tourism opportunities.
It will be his second sit down with President Xi in China after his first visit in November 2023.
The stabilisation in the relationship with Beijing led to a removal of about $20 billion worth of trade sanctions on Australian products after diplomatic relations hit a low during the COVID-19 pandemic under the former Morrison government.
Australian National University associate professor Graeme Smith said both governments would be seeking mutual assurances from each other on trade relations in the context of Donald Trump’s trade war.
“They’ll be looking for possible new markets for Australian goods because the US is not seen as terribly reliable anymore,” he told AAP.
Dr Smith said he expected Australia to raise the lack of notification given by China when their military conducted military drills earlier this year during a circumnavigation of the country.
