With China having been specifically excluded from the newly signed Trans-Pacific Partnership by the US, Australian trading companies see the importance of our Senate endorsing the ChAFTA.
The Trans-Pacific Partnership agreement (TPP) just signed between 12 Pacific Rim nations will free up many trade aspects - particularly farm produce - for Australia between the members, although full details of the deal are still not known. Now that we have done this deal with everyone around the Pacific Rim except China, we risk leaving a huge gap in our global trade relations, should the Senate reject our agreement with China.
Australia’s proximity to burgeoning Asian economies demands our ongoing engagement with them and, despite economic headwinds in China, that country continues to promise huge growth prospects for us.
The past two years have seen us ink bilateral trading agreements with China, Japan and South Korea. Now the multilateral TPP deal, in spite of being somewhat controversial, expands our trade horizons even further. However both importers and exporters will continue to keep China front and centre in their plans going forward.