Australian Prime Minister Anthony Albanese has announced his upcoming visit to China from November 4 to 7 to meet with President Xi Jinping and Premier Li Qiang, marking the first visit by an Australian leader to China since 2016. The visit comes after a breakthrough in resolving a dispute over wine tariffs, reflecting a diplomatic thaw between the two nations.
China's Commerce Ministry confirmed that both countries had reached a consensus to settle the World Trade Organization (WTO) wine dispute, with a review of China's wine tariffs planned in the coming months. The resumption of Australian wine imports, worth approximately $800mn annually, is expected as a result.
While Albanese did not mention duties on wind towers, there has been a recommendation to lift anti-dumping measures on Chinese wind towers. The Chinese Commerce Ministry expressed willingness to continue dialogue and consultations with Australia to ensure the stable and healthy development of economic and trade relations.
These developments follow China's decision to lift restrictions on imports of Australian coal, timber, and barley, previously imposed due to Australia's call for a COVID-19 origins inquiry. The wine tariffs, reaching up to 218% on most Australian wines, had severely disrupted trade in this crucial market for Australian winemakers.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)