China’s decision to reopen their market to exports of live Australian markets ends years of confusion for the local industry.
The return of the Australian lobster to the China market is a reminder of the promises inherent in trade deals and an antidote to the constant sabre-rattling of the superpowers.on the sidelines of the ASEAN summit in Laos, bringing to a near end China’s $20 billion trade embargo on Australian exports.Unravelling domestic issues may be nipping at his heels, but restoration of the China trade is one of Albanese’s happier achievements.
Lobster fisheries in South Australia and Torres Strait were particularly hit. More than 90 per cent of the Australian rock lobster trade was exported to China before the trade restrictions, worth about $770 million. However, the ban resulted in a spike in Australian exports to nearby markets, including Hong Kong, Taiwan and Vietnam, and there were reports of a flourishing of black market trade in China to circumvent the embargo.
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