🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Australia yet to strike deal with China for foreign minister's visit - sources

Published 01/08/2018, 09:28 pm
Updated 01/08/2018, 09:30 pm
Australia yet to strike deal with China for foreign minister's visit - sources
PERP
-
TWE
-

* Australia asked China in May to approve visit

* Expects to strike a deal after recent lobbying

* Australian wines begin to flow into China

By Colin Packham

SYDNEY, Aug 1 (Reuters) - A schedule for Australian Foreign Minister Julie Bishop to visit China has yet to be agreed, although dates were proposed more than two months ago, two sources said on Wednesday, an impasse in Canberra's efforts to repair strained relations.

Ties suffered in November 2017, after Prime Minister Malcolm Turnbull accused Beijing of meddling in Australia's affairs, and in May, when some Australian wines began to experience delays in clearing Chinese customs to enter their biggest market. in May, Australia proposed dates for Bishop's travel as part of a series of meetings between the foreign ministers of the two countries held since 2014. source aware of the protocol said talks over a visit would typically take "weeks", although a pact remains elusive.

"No agreement has been reached over dates, but they are confident that the meeting will proceed," said one source briefed on the matter by government officials, who declined to be identified as he was not permitted to speak to the media.

A spokesman for Bishop declined to comment.

In Beijing, Foreign Ministry spokesman Geng Shuang said talks continued, but added that the burden of repairing the damage lay on Australia.

"What I want to stress is that a healthy and stable China-Australia relationship accords with the basic interests of both countries and their peoples," he told reporters.

"We hope that the Australian side meets China halfway, and can, on the basis of mutual respect and equal treatment, do more to benefit the increase of mutual trust and cooperation."

The row spilled into the trade arena in May, after six Australian wines, including vintages from the world's biggest-listed winemaker, Treasury Wine Estates Ltd TWE.AX , and Pernod Ricard PERP.PA suffered delays in clearing Chinese customs. fears that Australian wine sales to China this year would fall short of a A$1-billion ($741-million) forecast, its diplomats began to lobby their Chinese counterparts, and confidence is growing that the lobbying is bearing fruit.

Sales are beginning to flow in China with only minor delays,

Australian wine industry executives said.

"The issue is much better now," said an industry source who declined to be identified as he was not authorised to talk to the media. "If there are delays, companies are now factoring them into shipments." ($1=A$1.3490)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.