Australia, China open FTA talks
Reuters, Sydney
Australia and China began talks Monday towards a free trade deal, boosting China's efforts to be accepted as a full market economy and Australia's bid for greater access to the world's most populated market place."The China-Australia FTA is a significant development in our relations," said Wu Bangguo, China's parliamentary chief, in announcing the first round of talks in Sydney. "It will help expand bilateral cooperation in trade, investment and services and provide even greater horizons for our economic partnership," Wu said in a speech. In contrast, China is locked in an increasingly bitter trade dispute with the United States and the European Union over its textile shipments after world export quotas were dropped at the start of the year. China said on Friday it would raise export tariffs on a range of textiles, a move met with caution by the EU.
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