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In 2015 Australia exported $9.1 billion to China in agricultural products, around 20% of Australia's total agricultural exports, whilst in the same year China exported $ 1.2 billion to Australia in agricultural products. The China-Australia Free Trade Agreement (FTA), which came into force on 20th December 2015 provides opportunities for increased trade of agricultural products between both countries. While the FTA's main focus is in the reduction of tariffs to assist the flow of agricultural trade, other opportunities exist to address the nontechnical barriers to trade in agriculture. The Australian and Chinese Governments have entered into the China-Australia Joint Framework on Agricultural Cooperation in November 2015, to foster collaboration and growth in Australia-China two-way trade benefitting farmers and food producers in both countries. This agreement also provides funding opportunities in the research of the non-tariff, technical and regulatory barriers to trade. |
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