China-Australia economic and trade relations received positive signals, Chinas Ministry of Commerce Minister Wang Ventao and Australias Trade Minister Farill jointly presided over the 16th China-Australia Ministerial Economic Joint Committee on May 12. The two sides agreed to restart the Joint Committee of the Free Trade Agreement, the High-Level Trade Relief Dialogue and other economic and trade dialogue mechanisms, strengthen cooperation in the fields of green low-carbon, Olympic infrastructure construction, and promote provincial economic and trade interconnection, while supporting the two countries enterprises in the field of digital trade and e-commerce.

It is understood that the mechanism of the China-Australia Ministerial Economic Joint Commission began in 1986, but has been in a state of suspension since 2017. The resumption of the joint commission sent important signals that China-Australia relations are developing in a good direction and predicts the stable development of bilateral economic and trade cooperation.

Following the meeting with Wang Ventao, Farill described the current Australian-China relationship with “positive momentum.” He said the discussions between the two sides were positive and a series of actions had been taken, such as Australia’s coal and copper have re-entered the Chinese market, and the two sides are resolving the Australian-China export dispute. Both sides agreed to strengthen dialogue to resolve the trade dispute.

Researchers at the Institute of International Trade and Economic Cooperation of the Ministry of Commerce said that the Australian Trade Ministers conduct to strengthen economic exchanges between the two countries laid a good foundation, and the two sides are seeking to fully unfreeze trade relations.Farrell said before the start, it will actively promote Australias exports to China to a comprehensive restoration; Chinas Ministry of Commerce called on the two countries to promote China and Australias practical economic and trade cooperation.