Thursday is a good day for Australia’s export as the Chinese ambassador Xiao Qian surprises everyone with the import of Timber of about $600 million annually; they resumed the project after three years of suspension due to strained bilateral relations. Australia has successfully negotiated with China on timber Imports, and this positive development opened new doors for trade from Australia to China.
Ongoing negotiations between the two countries have gradually resulted in lifting of sanctions on coal, barley and now Timber. Agriculture Minister Murray Watt tells Sky News.
Australia that the decision on Timber could be crucial in removing similar sanctions. China’s agriculture minister justified their decision of sanctions based on biosecurity and quarantine concerns, which are limited to not only coal, barley and Timber but also red meat and seafood.
Minister Watt also expressed that they come with the same approach in other commodities, like the given resolution of quarantine-related issues regarding Timber. In 2020, China banned several Australian traders from exporting red meat and issued directives to Chinese importers not to purchase Australian lobster.
During the period of banned items, Australia’s share of the Chinese beef market dropped from 21% to only 9%. Breakthrough in the timber sector comes less than a month after both countries reach to resolve the barley dispute. The Coalition welcomes the normal trade relationship between the two countries. They continuously urge the government to pressurize China to reverse all the remaining measures.
Also read other articles.
- Trubisky Signs Two-Year Extension with Steelers
- $11B For Renewable Energy For Rural Areas: Biden Administration Biggest Announcement
- What Is Craigslist Cars: Your Complete Guide
- What Is Core Ball? How To Master This Game
- Tasty Pot Review: The Best Hot Pot Place in Town