Vaughn Barber, chair of the China-Australia Chamber of Commerce (AustCham China), described the trade between the two countries as being in positive momentum and expressed optimism about bilateral cooperation in emerging sectors on the eve of the Australian Prime Minister's upcoming visit to China.
At the invitation of Chinese Premier Li Qiang, Australian Prime Minister Anthony Albanese will pay an official visit to China from July 12 to 18.
In an interview with China Global Television Network (CGTN) ahead of Albanese's visit, Barber emphasized that this visit clearly demonstrates Australia's strong commitment to its relationship with China. He expressed hope that the visit would establish a solid foundation for practical bilateral economic cooperation.
"This visit sends a strong signal about the importance that Australia places on its relationship with China and shows a willingness to engage directly on difficult issues. For the business community, that's important because companies need predictability, stability and confidence to invest for the long term. So, now the relationship's stabilized, we'd like to see greater focus on practical cooperation, and we hope that this visit will help deliver that because high-level engagement builds trust and that helps set the tone for deeper cooperation in areas that are critical for Australia's future prosperity," Barber said.
Meanwhile, Barber highlighted the current priorities for stabilizing and enhancing economic cooperation from the perspective of the business community.
"Success here isn't just about selling products. It means localizing operations, building trusted relationships, and aligning with the evolving needs here in China. So, that's why partnering with local governments, private companies, and academic institutions is one of the most important enablers of their success in the market to better understand, shape, and proactively respond to changing stakeholder expectations and regulatory requirements, and most importantly, to unlock new business opportunities," he said.
Moreover, Barber noted that as China remains a major market for Australian exports, the bilateral economic relationship is maturing, transitioning from its traditional focus on Australian resource exports to a more balanced and two-way cooperation in emerging sectors such as clean energy, biopharmaceuticals, and agribusiness.
This complementary partnership enables both countries to capitalize on their respective strengths while jointly expanding consumer markets for mutual advantage, he said.
"So, it's really important to say that the relationship is two-way. Too often in Australia, we focus mainly on exports to China and you can see that in a lot of the headlines in advance of the prime minister's visit. But Chinese imports and investment are equally important for shaping Australia's future industries. Of course, our traditional strengths and resources and agribusiness, still underpin the relationship. With over 400 million middle-income consumers, China offers a vast and stable market for Australian minerals, wine, beef, lobster, and other products," Barber said.
"But our latest sentiment report points to a more mature and future oriented phase of engagement. Clean energy, biopharmaceuticals, medical devices, they're all gaining momentum. Electric vehicles and clean energy are key opportunities for Chinese exports to Australia, reflecting China's leadership and manufacturing scale in these sectors. On the Australian side, respondents see agribusiness, clean energy, and food and beverage as the sectors with the strongest opportunities for investment into China over the next five years. Their sectors where both sides bring something really valuable to the table and where their deeper cooperation can deliver real benefits for both sides," he said.
China has been Australia's largest trading partner for 16 consecutive years.
According to data from the Ministry of Commerce, the total trade between the two countries reached 211.5 billion U.S. dollars in 2024. Additionally, Australia has established over 15,000 companies in China, with investments surpassing 11.14 billion U.S. dollars.
AustCham China chair optimistic about bilateral trade ties ahead of Australian PM's visit to China
AustCham China chair optimistic about bilateral trade ties ahead of Australian PM's visit to China
