Australian Prime Minister Anthony Albanese has strongly supported the World Trade Organisation’s (WTO) trade rules framework while rebuking the economic sanctions imposed by Beijing.
On Nov. 5, the prime minister attended the China International Import Expo in Shanghai, where he delivered a speech about the relationship between the two countries and trade issues.
Mr. Albanese stressed the importance of free trade and the role of government in ensuring a proper environment for businesses to develop and thrive.
“There is, of course, also an important role for government to play in creating the right conditions for business to innovate and thrive and helping businesses take advantage of market opportunities.
“We do that by eliminating unnecessary barriers to trade and investment by fostering a level playing field, and by working towards inclusive economic growth.”
The prime minister also said Australia highly valued the WTO for its “independent” role in arbitrating trade disputes among member countries.
“The framework of trade rules provides certainty and opportunity for redress if problems arise,” he said.
“Australia and China have prospered thanks to the certainty and stability that is made possible by rules-based trade.”
Since 2022, the Chinese Communist Party (CCP) has imposed sanctions on $20 billion (US$13 billion) worth of Australian export products following a series of diplomatic fallout between the two countries.
While the CCP has lowered the tariffs to $2 billion after many rounds of negotiations, it still maintains trade restrictions on various Australian commodities, including wine and lobster.
CCP Says It Opposes Protectionism
In his address at the Shanghai Expo, Chinese Premier Li Qiang denounced “unilateralism and protectionism” in international trade.The premier then added that the CCP would “uphold” the multilateral trading system established by the WTO.
Prior to this, Mr. Li reaffirmed the importance of the bilateral relationship between Australia and China during a dinner with Mr. Albanese.
Australia Won’t Reset Relationship with China
Amid Mr. Albanese’s trip to China, the Australian government has stated that it was not attempting to reset the relationship between the two countries but was rather aiming to stabilise it.“It’s not possible to turn back time. We can’t reset the relationship to what it was back in 2016,” he told Sky News Australia.
“What a relationship between Australia and China looks like in that new world is going to mean different things to China and to Australia.
“We need to use all of our Australian tools of statecraft, across defence, across diplomatic capabilities, across our economic capabilities, and co-ordinate and align them in the pursuit of our own interests.”
While Chinese state-run media had generally positive coverage of Mr. Albanese’s visit, it warned that there were still many “challenges” that prevented the bilateral relationship from returning to what it was previously.
The Global Times claimed that the United States’ attempts to push its Indo-Pacific strategy to counter CCP influence had caused China-Australia relations to drop to an all-time low.
The CCP’s mouthpiece also said Australia should not let its relationship with Beijing be “kidnapped” by the United States.
