china-tradeThe Chinese government has indicated that it is keen to promote business ties between China and Australia – a good omen if you are either currently importing from China or considering it.

Chinese Premier Li Keqiang has recently said that China is keen to speed up an agreement with Australia which would effectively introduce a duty free arrangement between the two countries so imports and exports would not have to pay any duty.

The Australian government is also keen to get an agreement in place and in fact has been in negotiation with China for nine years to try and secure one. Prime Minister Tony Abbot is due to visit China in April and has stated his is aim is to tie up free trade agreements with China and Japan by the end of this year.

Although many of the benefits of any agreement with China would flow to companies looking to either export to China or set up business there, there are still be substantial benefits for people and businesses importing from China to Australia in terms of the cost reduction from the removal of the duty component.