Business / Economy

Aussie exporters taking advantage of free trade deal with China: Trade Minister

(Xinhua) Updated: 2016-08-18 10:54

CANBERRA - Australia's exporters are greatly benefiting from a raft of recently-signed free trade deals,including the China-Australia Free Trade Agreement,Trade Minister Steve Ciobo said on Thursday.

Ciobo, Minister also for Tourism and Investment, said the annual Australian International Business Survey (AIBS) showed the majority of Aussie exporters were more bullish about their export opportunities compared to 2015.

"Australia's International Business Survey 2016 (AIBS 2016) Highlights Report shows 67 percent of exporters believe the outlook for their business is better compared to 2015, following the successful completion of free trade agreements (FTAs) with China, Japan and Korea," Ciobo said in a statement released on Thursday.

Ciobo said that four out five Australia exporters were planning to expand their operations to include an overseas venture, with China being the main target market ahead of the USA, India and the UK.

"The report found 78 percent of exporters were planning business in additional overseas markets over the next two years, with the top new target location being China," the Trade Minister said.

"Increased exports are good news for all Australians because it means better economic growth and more job opportunities for Australians."

Ciobo said the Australian government was working hard to open up even more opportunities for Australian exporters, with a number of free trade deals with other key nations in the works for the near future.

"We are building momentum for concluding a free trade agreement with Indonesia, working towards launching free trade agreement negotiations with the European Union and will seek to open negotiations with the United Kingdom at the right time," Ciobo said in a statement.

"We are also continuing to pursue trade agreements with India, the Regional Comprehensive Economic Partnership countries, and the members of the Gulf Cooperation Council, as well as the Pacific Island countries through the PACER Plus agreement."

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