China has removed the last significant trade barrier it imposed on Australia, with a timetable to resume full lobster imports by the end of the year.
Author
Michelle Grattan
Professorial Fellow, University of Canberra
Anthony Albanese announced the breakthrough after a meeting with Chinese Premier Li Qiang in Vientiane, where the prime minister is attending the ASEAN-Australia summit.
Albanese said the end of the barrier would be in time for the Chinese New Year. This would be welcomed by those in the lobster trade in places including Geraldton, Western Australia, and in South Australia and Tasmania, he said.
The lobster decision means the Chinese over the last two years have removed trade barriers of nearly $20 billion slapped on Australia during the time of the former government when relations between the two countries went into a deep freeze. This followed various Australian decisions, including the call for an inquiry into the origins of COVID.
Remaining impediments are now worth less than $500 million, with two red meat establishments still affected.
The lobster trade was worth more than $700 million in 2019.
More than 3000 people are employed in the lobster industry, 2000 of them in WA.
"The reinstatement in normalised trade for all commodities is front and centre of the Government's engagement strategy with China," Albanese said.
"It is in the interests of both our countries to continue this path of stabilising our relationship. A resumption in trade for all Australian commodities is an important part of this process."
Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
