Australia’s long-running dispute with China on wine tariffs is close to ending, ahead of a trip to Beijing by Prime Minister Anthony Albanese.
Canberra’s relationship with Beijing has taken another major step towards normalising after striking a deal that could see the end of China’s tariffs on Australia’s $1.2 billion wine exports into the huge market.
Anthony Albanese has revealed he will head to Beijing on November 4, after confirming a deal that will end Chinese tariffs on Australian wine has been struck.Australian wine exports to China were hit with tariffs of up to 220 per cent in 2020 as part of a series of trade sanctions worth $20 billion as relations between the two nations deteriorated.
Albanese said since the removal of the barley tariffs, the government had been seeking an end to Australia’s wine dispute with China that is now in the World Trade Organisation .He said a deal had now been struck that will see China undertake an “expedited” review of the wine tariffs that is expected to take five months. The WTO dispute between the two nations will be suspended pending the review’s conclusion.
“I welcome the progress we have made to return Australian products, including Australian wine, to the Chinese market. Strong trade benefits both countries,” Albanese said.During his trip to China, Albanese will meet President Xi Jinping and Premier Li Qiang. Economic links between the two nations, climate change and personal relations between China and Australia will be discussed.
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