Australia's service providers - including the big banks, universities and construction and transport companies - yesterday received the strongest indication yet that they may be among the winners from the free trade agreement being negotiated with China.
Businesspeople naturally admire decisiveness. This is one reason why China is so widely sought by corporate Australia as a trade and investment partner.
Australia's free trade agreement (FTA) with the United States is only benefiting businesses with well-established links, Australia's peak industry group says.
Trade minister Toshihiro Nikai's announcement earlier this month that Japan plans to start talks with 15 other nations in 2008 to create an Asia-Oceania free-trade zone took many by surprise -- not only experts but also those within government -- sparking speculation about the ministry's true intentions.
Japan's sponsorship of a vast free trade area including most of Asia, Australia and New Zealand is expected to be on the agenda when Associate Trade Minister Jim Sutton visits Tokyo later this month.
The Japanese government plans to propose the formation of an Asian free-trade zone which could include half the world's population and rival the EU and NAFTA, an official of the trade ministry said.
Australian farmers are warning the Federal Government to take its time negotiating a free trade agreement (FTA) with China, after a push by Chinese Premier Wen Jiabao to accelerate talks.