Australia, China begin FTA negotiations
(Agencies)
Updated: 2005-05-23 10:10

Australia and China began the first round of negotiations on a free trade agreement Monday, a senior Australian trade official said.

The launch of the negotiations in Sydney coincides with an address there by the Chairman of China's National People's Congress, Wu Bangguo, to senior Australian and Chinese business representatives. Wu is in Australia on a five-day visit.

In announcing the start of negotiations, Trade Minister Mark Vaile said Australia was in a good position to provide the services and commodities China needed for its continued economic growth.

"China is one of the fastest growing economies in the world and Australia is extremely well placed to take full advantage of this significant export opportunity," Vaile said in a statement.

"As from today, senior trade officials will map the way forward for the negotiations operating on the principle that they will be comprehensive, covering goods, services and investment, and be completed as a single undertaking," he added.

An agreement to launch negotiations into a free trade deal was announced when Australian Prime Minister John Howard visited Beijing last month.

Wu will meet Howard in the national capital Canberra Tuesday.