China has lifted the final restrictions on Australian red meat, marking a significant step towards the full resumption of trade between the two countries. The move, confirmed by Canberra on Tuesday, is the latest in a series of steps taken to ease trade barriers that have been in place since 2020. The restrictions on several Australian commodities, including red meat and lobster, were imposed as relations between Australia and China deteriorated. However, in recent years, China has gradually removed these barriers as Australia worked to repair diplomatic ties.
Australian Prime Minister Anthony Albanese welcomed the announcement, stating that China had paved the way for the “full resumption of red meat exports.” The full resumption of lobster exports is also expected by the end of the year. Trade Minister Don Farrell highlighted that the removal of these restrictions marks the end of trade impediments that affected approximately US$13 billion in Australian exports. In addition to red meat, China has already lifted tariffs on Australian barley and wine, resumed imports of timber, and re-established coal shipments.
Earlier this year, China lifted suspensions on eight Australian slaughterhouses, although two facilities remained restricted. With the latest development, those final two beef-processing plants can now resume exports to China. China is Australia’s second-largest beef export market, following the United States. The resumption of lobster exports, the last major barrier to full trade recovery, is expected to take place by the end of 2024, aligning with the demand for delicacies like rock lobster during the Lunar New Year.
The trade relationship between Australia and China has faced challenges in recent years, particularly following political tensions related to security and international investigations. Despite this, Australia has made efforts to shield its trade ties with China, which remains its largest trade partner.
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