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Chinese companies in 100-year Australian-Sino food deal

Staff writer ▼ | July 31, 2014
Mining billionaire Andrew Forrest has reportedly signed up three of China's biggest food companies to join his radical push to revive Australia's farm sector and position the nation as China's largest supplier of agricultural products over the next 100 years.
Andrew Forrest
One century   Andrew Forrest wants to revive farm sector
Forrest, who has long championed an Australian-Chinese food partnership, said he would like to see a time when Autralia was seen "as China's friendliest, largest, most reliable, highest quality, most competitive, most efficient food and agricultural products supplier."

The tycoon will be joined on Thursday by federal Agriculture Minister Barnaby Joyce, Business Council of Australia chief Jennifer Westacott and industry leaders in Sydney for the first meeting of the Australia-Sino 100-Year Agricultural and Food Safety Partnership, known as ASA 100.

Mr. Forrest told The Australian newspaper that he believed it was " unprecedented" for the Chinese agribusiness giants, privately owned New Hope Group, state-owned COFCO Group and Singapore-listed Wilmar International, to back such an initiative.

The idea for a 100-year partnership arose from a meeting between Mr. Forrest and Chinese Premier Li Keqiang in Beijing earlier this year. Forrest said Mr. Li's No. 1 concern was ensuring a safe food supply for China's 1.3 billion people.