Australia and China signed a free trade agreement that includes removal of restrictions on China’s investments in Australia. The negotiations between Canberra and Beijing lasted for 10 years and finally Australian Prime Minister Tony Abbott and Chinese President Xi Jinping signed a historic deal.
The agreement gives both countries access to each other’s markets with volumes reaching billions of dollars. In addition, the deal envisages limitations on Chinese investments in the Australian economy.
According to some experts, the agreement will be particularly beneficial to Australian farmers and the service sector, as it will provide access to the Chinese domestic market.
