Chinese Premier Li Keqiang Visits Australia and New Zealand, Eyes Trade Deal Upgrades

In official visits to Australia and New Zealand over the past week, Chinese Premier Li Keqiang met with government and business leaders to discuss economic ties and cooperation, while outlining plans with his counterparts to begin upgrading their existing free trade agreements (FTAs) this year. While in Canberra, Li and Australian Prime Minister Malcolm Turnbull agreed to a declaration of intent to review the services and investment aspects of the China-Australia Free Trade Agreement (ChAFTA), though that deal only came into force just over a year ago. In the subsequent visit to New Zealand, the countries agreed on a timeline for initiating talks to revamp the FTA between China and New Zealand, signed in 2008, with renewed negotiations set to begin starting next month. (See Bridges Weekly, 27 February 2008 ) China is the largest trading partner to both Australia and New Zealand, and both countries are celebrating 45 years of diplomatic ties with China this year. Regional, international trade cooperation The leaders each reaffirmed their commitment to free trade at a time of continued uncertainty over the future approach to trade policy by some major players. Australia, New Zealand, and China are already in talks for the Regional Comprehensive...