China, Australia to share strong business relationship

By @pathakmishra on
Australia's Trade Minister Andrew Robb
Australia's Trade Minister Andrew Robb attends the meetings for the Trans-Pacific Partnership (TPP) in Lahaina, Maui, Hawaii July 28, 2015. Pacific Rim officials meet in Hawaii this week for talks that could make or break an ambitious trade deal which aims to boost growth and set common standards across a dozen economies ranging from the United States to Brunei. Reuters/Marco Garcia

Speaking from Beijing on Friday, Trade and Investment Minister Andrew Robb said that the reaction of the unions against the China-Australia Free Trade Agreement was rousing a vital problem for the economic growth of both countries involved.

“I am here in Beijing with 35 Australian CEOs who are hard at work creating business opportunities that will boost prosperity back home for years to come,” Robb said. He added that every team member is waiting for the agreement to come into force later in 2015. The team is willing to move ahead with the plan and scared of losing this opportunity to earn billions of dollars and enhance the economic conditions.

The team members have began recruiting skilful people and implementing plans to ensure convenient flow of business in few months. Robb’s delegation include vitamin supplement manufacturer Blackmores, which officially announced its partnership with Chinese e-commerce site JD.com to ensure ten times more sales than Chinese customers.

China’s Blackmores deal contributes around 83 percent more profit to the brand that constituted extra profit for six weeks to most of its 900 staff. Also, meat marketer Sanger Australia signed a memorandum of understanding with JD.com and introduced the First Cut Pure Australian Beef and became the first to sell retail-ready beef product to the customers in China online.

The Meat and Livestock Australia, or MLA, has declared China as the number one beef supplier of Australia, constituting 42 percent of complete imports of around AU$760 million. The China-Australia FTA will constitute revenue of around AU$830 million per year by 2020, estimation of MLA depicts.

“Today we have two major deals between Australian and Chinese companies that illustrate the future of our business relationship with China,” Robb said. He also stated that whether it is vitamin supplement manufacturing or beef sale, China and Australia predictably are the two best nations with strong business relationships.

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