Australia wants exporters to diversify markets and become less reliant on China, because it cannot separate economic and strategic relationships, Foreign Minister Penny Wong said a day after the trade partners unveiled a path to ending a dispute
Both nations have reached consensus to end their dispute over barley, they said on Tuesday, with Australia suspending a case at the World Trade Organization, while China hastens a review of tariffs on Australian exports."Making sure we do diversify our export markets is an important part of our national resilience," Wong told Sky News in a television interview on Wednesday.
Trade worth A$285 billion a year continues with Australia's major two-way trading partner, while thawing ties see Beijing wind back impediments placed on a raft of Australian commodity exports in 2020 amid a diplomatic dispute. "We know that we want a more stable relationship with China, but we know we're not going to be able to continue to separate our economic and our strategic relationship," she told Nine's Today Show.
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