LAST_UPDATEThu, 19 Jul 2018 11pm

Bilateral Free Trade Pacts Focus Of Australian PM Tour Of North Asia

Tony Abbott: Aiming for free trade ‘trifecta’ with Japan, South Korea and China. Pic: ReutersTony Abbott: Aiming for free trade ‘trifecta’ with Japan, South Korea and China. Pic: ReutersCANBERRA: Australian Prime Minister ny ny Abbott today said he would be working for the “trifecta” of free trade with Australia’s three biggest trading partners when he leads trade missions to Japan, South Korea and China next month.

“This will be my first official visit to north Asia and it’s happening very early in the new government’s term,” Xinhua news agency quotes Abbott saying in a speech to the Asia Society in Canberra.

“Just because Asian countries have found Australia a good supplier in the past doesn’t mean they will inevitably do so in the future. That’s why this government is doing everything it can to complete free trade agreements with our top three export markets,” he said.

Abbott said he hoped to witness the signing of the South Korea-Australia free trade agreement (FTA), to finalise the Japan-Australia FTA, and to announce substantial progress towards freer trade with China.

“This is the trifecta of trade we are working towards,” he said.

The South Korea-Australia FTA will reduce or eliminate tariffs on key agricultural exports, and open opportunities for innovative service businesses.

Abbott’s visit will coincide with the inaugural Australia Week in China to which Trade and Investment Minister Andrew Robb is leading the largest overseas business delegation from Australia.

The delegation will involve small, medium and large companies from across all sectors of the Australian economy including financial services, food and agribusiness and manufacturing. 




— Bernama