Australia and China end their barley dispute as trade ties strengthen.

Australia and China end their barley dispute as trade ties strengthen.

Australia and China end their barley dispute as trade ties strengthen. According to Australian Foreign Minister Penny Wong, who announced on Tuesday, Australia and China have agreed to resolve their disagreement over barley imports. This is the most recent indicator of strengthening relations between the two countries.

Wong informed a news conference that Australia would put its pending complaint before the World Trade Organization (WTO) on hold while China investigates the taxes on the grain.

Read more: Ukraine’s second-in-command at foreign affairs travels to India.

“China has agreed to undertake an expedited review of the levies placed on Australian barley over three months, which may be extended to a fourth if necessary,” she added. “The review will take place over three months.”

“As part of the deal, we have conceded to temporarily halt the WTO dispute until the time agreed upon for its evaluation.”

She said the government anticipates a similar outcome in a second issue regarding wine tariffs.

One of the numerous issues that have been a source of contention between Australia and China in recent years is China’s imposition of anti-dumping and countervailing tariffs on Australian barley. In the year 2020, Australia filed a formal protest with the WTO against these duties.

Since the center-left Labor Party took power in Australia last year, relations have been warming up. In December, Wong met her Chinese counterpart Wang Yi in Beijing; this was the first visit of this kind by an Australian minister since 2019.

The trade dispute between Australia and China over barley, which began in 2018, has been resolved after the two countries agreed. The resolution came after a year of high tension between the two countries.

China imposed tariffs on Australian barley exports in May 2020, claiming that Australian farmers were dumping barley on the Chinese market. This led to a high level of tension that brought about the resolution. Australia refuted the claims and agreed with the World Trade Organization. The disagreement between the two countries has been resolved, which indicates that tensions between them will begin to lessen and will boost commercial connections.

Because of the agreement, Australian barley exporters will no longer be required to pay China’s high tariffs when selling their goods there. These duties constituted a significant barrier to commerce. In the middle of the current COVID-19 pandemic, Australia’s trade minister welcomed it as an essential outcome and anticipated that the deal would assist in boosting Australia’s economic recovery.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Related Posts