Australian and Chinese companies pen landmark agreements
Eleven major commercial agreements between Australian and Chinese companies worth almost $15 billion over the next five years have been signed today, reflecting the high level of commitment of the Australian business community to continued engagement within China.
Minister for Trade, Tourism and Investment Simon Birmingham said the commercial deals spanned across a range of sectors including tourism, resources, infrastructure, e-commerce and logistics services.
"The fact that these deals have been concluded across a variety of industries shows the breadth and diversity of opportunities for Australian businesses in China," Minister Birmingham said.
"These agreements signed here in Shanghai today demonstrate both the current strength and the future potential of the trade and investment relationship between Australia and China.
"They present exciting new developments and opportunities for Australian companies and help to provide certainty for businesses and their employees.
"The certainty these types of agreements can provide, means Australian companies can have confidence to invest more in their operations which is good for our economy and helps to creates more jobs.
The agreements include:
- Fortescue Metals Group (FMG), signing iron ore supply and delivery agreements with Anyang Steel International Trading Co Ltd, Baotou Steel International Economic and Trading Co, Lingyuan Iron and Steel Co;
- ANZ signing a commitment to enter into financing arrangements with CCCC International Holding Ltd;
- BBI Group signing a financing agreement with China Zhongchong Investment Group and an iron ore supply and delivery agreement with Sheng Xuan International;
- Blackmores signing a deal with JD Global to distribute health products using e-commerce channels;
- Australia Post signing an agreement with China Certification and Inspection Group Co for cooperation in logistics services, including traceability and tracking capabilities;
- Port Adelaide Football Club signing a sponsorship deal with Rio Tinto promoting Australian Rules Football in China, and Indigenous leadership in sport;
- Tourism Australia signing a commitment with China Eastern to promote tourism in key Australian and Chinese markets; and
- Austrade signing a deal to expand the procurement of Australian products on Suning Group's e-commerce platform.
"These demonstrate the strong commitment of Australian companies to be part of China's economic transition and continuing success.
"They are also a testament to the ongoing strength, diversification and growth of our trade and investment partnership, which is underpinned by the China-Australia Free Trade Agreement."
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