MoUs, agreements signed between China and AustraliaStaff Writer | September 10, 2017
The Australian Business Chamber signed an agreement with the Hangzhou Wine Association on trade and investment.
Cooperation Trade and investment
Among them, eco-friendly botanical cleaning producer Koala Eco will soon be launched on shopping website NetEase Koala.
Mineral water from Go Fresh International and wine from Swan Wine Group will also enter the Chinese market.
Wine has been one of the fastest growing areas since the China-Australia Free Trade Agreement came into effect in late 2015. Australian wine exports to China increased 44 percent in 2016.
Tax breaks also led to more Australian fruit, seafood, dairy products and beef coming to China. Total trade between China and Australia reached 155 billion Australian dollars in 2016, 23.1 percent of Australia's total foreign trade.
According Niall Blair, trade minister of New South Wales, some Chinese companies have gone to Australia to invest in farms, where they produce fruit such as oranges and apples and which they ship back to China. ■