Trade Minister attends world’s largest import expo

Trade Minister Don Farrell is in Shanghai to lead Australia’s delegation at the world’s largest import expo, the China International Import Expo (CIIE).

It is at the invitation of China’s Minister of Commerce, Wang Wentao.

Farrell also visited Treasury Wine Estates’ Shanghai office to support the winemaker talent development and exchange program.

The expo is an important platform for Australian businesses to showcase their world-class goods and services to our largest export market.

“In the year since Prime Minister Albanese and I attended the last expo, tariffs on Australian wine imports into China have been removed and suspensions lifted on eight red meat export facilities,” Farrell says.

“Last month, Prime Minister Albanese and Chinese Premier Li agreed a timetable for the full resumption of Australian live rock lobster exports by the end of this year.

“As a result of the Albanese Labor Government’s deliberate, careful and calibrated approach, nearly $20 billion worth of trade impediments on Australian exports to China have been removed.

“But we can’t rest on our laurels, the job is not done.

“Which is why I am proud to be supporting a record number of Australian businesses at the expo this year as they seek out new opportunities to grow and diversify their markets.”

Since the removal of import duties on Australian bottled wine in late March 2024, Australian wine exports have surged to mainland China – to a whopping $612 million.

Farrell will meet with his counterpart, Minister Wang, and will continue to press for the full resumption of normal bilateral trade.

“China is our largest trading partner and will remain so for the foreseeable future,” Farrell says.

“Total two-way trade reached a record $327 billion in 2023.

“The benefits of our trade relationship with China flow to everyday Australians in the form of more well-paying jobs, increased business opportunities, and a lower cost of living.

“Every single product we export to the world represents thousands of Australian jobs, and the Albanese Labor Government is committed to helping Australian businesses, exporters and producers diversify their markets.”