This month we are proud to say that our Managing Director Brett Evans was recently interviewed by the Shanghai Business Review as part of the Australia Report. With the China-Australia relationship becoming more entrenched there are a number of key topics that are discussed including the recent signing of the Free Trade Agreement.
“For the better part of the last 20 years, the China-Australia relationship has been characterised by supply and demand,” says Brett Evans, Managing Director for Atlas Wealth Management. China is Australia’s biggest trading partner in terms of both imports and exports, with the majority of this trade being in commodities.
At the same time, Australia is China’s fifth-biggest supplier of imports and its tenth-biggest customer for exports. Iron ore is the biggest export from Australia to China, followed by other natural resources including coal, gold, petroleum and liquid natural gas.
A significant area of benefit will be seen by the Australian dairy and beef industries, which will have tariffs removed. In the other direction, Chinese exports to China Australia including clothes, vehicles and electronics will be tariff free.
Both countries will see freer access to service sectors such as education, tourism and healthcare, and according to Evans, the FTA will also have a “massive effect on the financial services industry”.
To read the Australia report in full click on this link