I acknowledge the Ngunnawal and Ngambri people as traditional custodians of the lands of the ACT and region.
China is important to Australia - almost 600,000 jobs in Australia are supported by Australia’s economic relationship with China.
Australia is important to China - in 2024, Australia exported to China almost $105 billion worth of iron ore and concentrates, almost $21 billion worth of natural gas, almost $13 billion worth of education-related travel and over $17 billion worth of agricultural exports with China remaining Australia’s largest market.
It’s a fact the Albanese Government and Labor have understood since Whitlam.
It’s also why we worked so hard to stabilise our trade relationship with China post the election in 2022.
It’s a fact that is understood and represented by the work of the Australia China Business Council (ACBC).
And it’s why we are continuing to grow the economic relationship through the establishment of the Policy Dialogue on Steel Decarbonisation and resumption of the Australia-China Senior Officials Tourism Dialogue.
You will be hearing a lot about what we are doing to continue to grow our future economic ties including in technology, and innovation.
But before we look to the future, I’d like to highlight some previous and current initiatives, a number of which are supported by the National Foundation for Australia-China Relations.
For example, the ACBC China literacy and capability program – helping Australian industry and businesses to navigate China’s evolving opportunities.
I studied Chinese at university and I understand how important language and culture is to doing business in China.
Dairy Australia’s initiative is helping to strategically position Australia’s dairy, horticulture, meat and livestock, wine and seafood industries nationwide, strengthening their sustainable export credentials with China.
The Future Wool Industry Growers delegation visit to China is helping form new relationships with Chinese traders and manufacturers, and advancing Australian wool innovation.
These, and many other stories, showcase the true potential of informed engagement with China in strengthening economic ties and advancing our mutual interests.
As we continue to build upon our economic ties, it’s good to remember that behind our relationship with China, are people, and stories.
One of these is Jill Tang, co-founder of Ladies Who Tech, who travelled to study in Australia from the bustling city of Shanghai, and experienced first-hand the varying approaches to business in Australia and China.
Jill’s ability to look at innovation and entrepreneurship through a multicultural and global view through exposure to Australia and China’s differing approaches to doing business gave her an opportunity to establish, in 2017, a forum championing women’s participation in Science, Technology, Engineering, and Mathematics fields and working with companies across the globe.
China is Australia’s largest trading partner and will remain so for the foreseeable future, a testament to the strong people-to-people links and economic ties that are central to our relationship.
During his recent visit to China, Prime Minister Albanese agreed to continue or expand engagement in trade, tourism, and climate change, including through a general review of the China-Australia Free Trade Agreement (or ChAFTA) as it approaches its tenth anniversary.
And so, we are looking for ways to pursue engagement, across a range of sectors, including energy, resources and agriculture, and in healthcare, and education while working together to create innovations that meet the challenges of our time.
I commend the Australia-China Business Council on its work and for the Networking Day we have ahead of us.
Thank you.