The negotiations have been long but it looks like the China-Australia Free Trade Agreement (ChAFTA) has finally been announced. Securing this agreement has given Australia access to a strong and beneficial trifecta of economies. Korea, Japan and now China account for more than 60% of Australia’s exports and make up Australia’s three largest export markets.
The benefits to Australia will come through several industries including:
Resources and Energy
Trade and Investment Minister, Andrew Robb is optimistic on the opportunities the ChAFTA will provide Australia. “ChAFTA will add billions to the economy, create jobs and drive higher living standards for Australians.” The agreement will also benefit Australian businesses giving them unprecedented access to the Chinese economy which is the second largest in the world.
Chinese investment will also rise with the Chinese Government predicting over $A1.44 trillion in outbound investment to Australia.
The ChAFTA agreement is a turning point for investment and tariff free trade between Australia and China and will benefit our economy for years to come.
If you would like any more information on the options available for investment or business Visas to Australia, please give our experienced migration agents a call We are based in Brisbane and happy to assist with any Visa or immigration enquiries.