Australian Trade Minister Mark Vaile has predicted that Australia will achieve its highest export figure on record this financial year, and claims this is predominantly due to the emergence of China as a major industrialised power.
Speaking at the launch of the 2005 Trade Statement, Mr Vaile said that Australia must look at strengthening its trading relationship with China further.
“I believe the time is right for Australia to move into free trade negotiations with China,” he said.
“Australia must be at the front of the queue in this market. The Chinese economy grows stronger by the day and Australia simply cannot afford to be left behind.
“Regardless of the outcome of any negotiation, our robust and healthy relationship will continue to grow.”
Mr Vaile said that the government’s forward-looking agenda on free trade agreements also ensured that Australia would not miss out on opportunities created by its major trading partners pursuing FTAs with other countries.
“In 2004, Australia’s exports reached $152.5 billion, one of the highest levels on record,” he said.
“Trade is a crucial means through which we will secure our future prosperity. Around 70 per cent of our agricultural produce and around 80 per cent of our resources are exported. One in every five Australian jobs is linked to exports.”
