SYDNEY (Bernama-dpa): Beijing and Canberra have agreed on a timetable to resume Australian lobster imports into China, effectively ending a 4-year-old trade dispute.
Millions of dollars' worth of Australian rock lobster were hit with customs restrictions in China in 2020, amid a broader trade dispute between the two countries.
On Friday, the Australian government said that Canberra and Beijing have agreed "on a timetable with China for the full resumption of Australian live rock lobster exports by the end of the year".
The Australian government said that the agreement was reached in a meeting between Prime Minister Anthony Albanese and Chinese Premier Li Qiang on Friday on the sidelines of the ASEAN Summit in Laos.
"Since 2020, Australian rock lobsters have been effectively prevented from entering China's market," the Australian government said in a statement, putting the value of the Chinese market in 2019 at over A$700 million (US$$470 million).
China introduced a series of tariffs and restrictions on Australian products, including wine and barley, after Canberra called for an investigation into the origins of the coronavirus in China and banned the Chinese technology company Huawei from building a 5G network in Australia.
The lifting of the ban on live rock lobster imports effectively ends the years-long trade dispute between the two countries.
"Resolution of trade impediments is at the top of our government's agenda," Albanese said.
"It is in the interests of both our countries to continue this path of stabilising our relationship. A resumption in trade for all Australian commodities is an important part of this process." - Bernama-dpa
