China, Australia 'optimistic' on FTA talks

Frances Adamson, Australian ambassador to China, said at a Friday briefing that she is optimistic that China and Australia can conclude their negotiations this year for a free trade agreement.

She added that she would do everything possible to ensure its success this year, but the progress of the negotiations depends on the skills and determination of negotiators on both sides.

An FTA between China and Australia will set a good example for economies of the G20 and also the region with reduced trade barriers for the benefits of trade liberalization, the ambassador said.

China and Australia started the FTA negotiations in 2005, and the 19th round of talks was held in Beijing in June. Both sides expressed willingness to finalize the talks as soon as possible. Bilateral trade grew rapidly in recent years. Australia is China's eighth trade partner and an important source of iron ore and agricultural imports.

Australia is the host of G20 this year with stated priorities of boosting stronger economic growth and employment, and building global economic resilience to guard against future crises.