China has agreed to take away its extremely restrictive tariffs on the importation of Australian barley in a serious increase to the connection between the 2 nations.
“It is no longer necessary to continue to impose anti-dumping duties and countervailing duties on imports of barley originating in Australia in view of changes in the Chinese barley market,” the Chinese Ministry of Commerce mentioned in an announcement.
The breakthrough comes after months of talks from federal Trade Minister Don Farrell, together with an official go to to China in May.
In a joint assertion with Foreign Minister Penny Wong and Agriculture Minister Murray Watt, Farrell mentioned the barley tariffs have been costing the Australian financial system simply shy of $1 billion.
“Today the Australian government was notified that from tomorrow, China will remove the 80.5 per cent anti-dumping and countervailing duties on Australian barley,” the ministers mentioned.
“We welcome this outcome, which paves the way for our barley exporters to re-enter the Chinese market – benefiting Australian producers and Chinese consumers.
“It affirms the calm and constant method that the Albanese authorities has taken.
“Since May 2020, China’s duties on Australian barley have effectively blocked exports to that market, worth about $916 million in 2018-19.
“The elimination of duties is the results of work by authorities and business to resolve this matter.”
Australia had pursued legal action over the tariffs through the World Trade Organisation (WTO) but suspended that in April of this year in an agreement that saw China review the restrictions, eventually leading to Friday’s decision.
However, a similar dispute is still running between the two countries in regards to Australian wine.
“We have been clear that we anticipate an identical course of to be adopted to take away the duties on Australian wine,” the ministers’ joint statement said.
“In the meantime, we’re persevering with to pursue our wine dispute on the WTO and stay assured in a constructive end result.”
Source: www.9news.com.au
