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China lifts trade ban on five Aussie beef exporters after 4-year sanction

Published 30/05/2024, 02:10 pm
© Reuters.  China lifts trade ban on five Aussie beef exporters after 4-year sanction
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Beijing has lifted a trading ban sanction on five Australian beef exporters ahead of a visit by Chinese Premier Li Qiang in June.

The trading ban represented about $20 billion in trade sanctions imposed in 2020 after a spat between Canberra and Beijing led to sanctions on nine Australian commodities.

“That is fantastic news for the cattle producers, for the meat processing industry and for the workers in those industries,” Federal Agriculture Minister Murray Watt told ABC News Breakfast on Thursday.

“The work that we’ve done to stabilise our relationship with China is paying real dividends.”

Two abattoirs and exports for rock lobster still remain under sanction but three other Australian abattoirs had their licences renewed in December last year.

Government will continue to push

“We continue to press China to remove the remaining trade impediments, including for Australia’s rock lobster industry,” a joint statement by Minister for Foreign Affairs Senator Penny Wong, Minister for Trade Senator Don Farrell and Agriculture Minister Murray Watt read.

“The progress so far affirms the calm and consistent approach taken by the Albanese Labor Government.

“Trade impediments imposed by China prior to the May 2022 election resulted in a $20.6 billion reduction in exports.

“China’s progressive removal of impediments since then, including today’s announcement, means less than $1 billion worth of exports remain impeded.

“The lifting of impediments has already had a real-world impact – to the tune of more than $11.5 billion – for Australian barley, cotton, oaten hay, wine, coal, copper ores and timber logs.

“The Australian Government's approach is to cooperate with China where we can, disagree where we must and engage in our national interest.”

Farmers for Climate Action applaud

The Farmers for Climate Action organisation, which represents more than 8,200 farmers across Australia, welcomed the news that China will reopen trade with five major Australian beef exporters.

CEO Natalie Collard said Australian farming relied on trade.

“We’re a nation of 26 million people and our farmers grow enough food for more than 70 million people, so trade is vital to Australia and its farmers,” Collard said.

“The resumption of trade for these major exporters is great news for the beef industry, as were the previous announcements when other commodity exporters had their trade bans to China lifted.

“There is more to do as there are still another two exporters still waiting to have their bans lifted.

“We acknowledge this has been a great team effort by the meat industry and the Government.”

Read more on Proactive Investors AU

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