China FTA must be completed soon: Baillieu

Written By Unknown on Senin, 15 Oktober 2012 | 17.52

VICTORIAN Premier Ted Baillieu, who last month led a 600-strong delegation to China, has called on the federal government to get a move on with the Fair Trade Agreement (FTA) with the People's Republic.

He told the Australia China Business Council that the FTA talks have dragged on for seven years.

"That's a long time," he said.

"Progressing these negotiations is critical if Victoria and other states and territories are to increase trade and investment and create new jobs.

"The commonwealth government must do everything it can to support business in engaging more effectively with our largest trading partner."

Mr Baillieu said his trade mission was expected to result in more than $1.4 billion worth of new trade over the next two years and 1400 jobs.

Two of China's biggest banks - China Construction and the Industrial and Commercial Bank of China - will open offices in Melbourne before the end of the year.

And Sichuan Airlines will start flying three times a week between Melbourne and Chengdu, a major inland economic hub with a population of 14 million.

"The striking feature of China's economy is how Victoria's diverse economy, skills and expertise aligns with, and is complementary to, the needs and preferences of China's second and third tier cities and rapidly expanding middle class," Mr Baillieu said.

"The pressing task for us to make sure we engage with our largest trading partner on a size and scale that we've never done before culturally, economically, and at government-to-government level."

While in China, Mr Baillieu also launched an $8 million tourism campaign promoting the attractions of Victoria.


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