Media release 

Australian Minister for Trade, Mark Vaile

SATURDAY MAY 20, 2000
MVT51/2000

Australia welcomes EU-China Trade Deal

Trade Minister, Mark Vaile, today welcomed the trade agreement between China and the European Union as a significant step towards China's early entry into the World Trade Organisation (WTO).

"This agreement adds to the gathering momentum behind securing China's entry into the WTO this year," Mr Vaile said.

"It increases the focus on the US Congressional vote next week, one of the last remaining hurdles in the fourteen-year long process of negotiating China's WTO accession".

Mr Vaile was speaking on the eve of arriving in Beijing where he aims to officially sign Australia's bilateral market access agreement with China. Australia reached principle agreement with China on market access arrangements last May.

"China joining the WTO will mean significantly improved and more predictable access for Australian exports of agricultural products, manufactured goods and services," Mr Vaile said.

China is currently Australia's fifth largest trading partner with two-way trade of over 10 billion dollars annually. Latest figures for March 2000 saw Australian exports to China up 12 percent on March last year.

"The EU-China deal also sends a signal that trade reform is alive and well as Australia pushes for the launch of a new WTO round at the earliest opportunity," Mr Vaile said.

Contact: Bruce Mills, 0418 273 475