Chinese and Australian officials kicked off the negotiations of Sino-Australian Free Trade Agreement (FTA) on Monday in Sydney, hoping the talks will go smoothly.
The talks, which was described by one of the negotiators as a symbolic start rather than a in-depth discussion, focused on the agenda and arrangement of the negotiation. Progress was achieved at Monday's negotiations, a negotiator told Xinhua.
Vice Minister of Commerce of China Wei Jianguo told the meeting that a Sino-Australian free trade zone will create greater scope for goods trade and facilitate a faster development of bilateral trade.
Under a free trade deal, the two countries will witness an apparently enhanced cooperation in service areas like professional service, architecture, engineering, transport and traditional services, said Wei, co-chairman of the opening session.
The two countries have found great potential in investment between them and investors will be surely encouraged by improved investment environment, more transparent system and greater access to foreign investment in a free trade zone, he said.
A Sino-Australian free trade zone will be conducive to the realization of strategic objectives of the two countries and of great significance to trade liberalization in Asia and across the world, Wei said.
He expressed the hope that the negotiations will go smoothly.
Deputy Secretary of Australia's Department of Foreign Affairs and Trade Geoff Raby told the session that the free trade zone in discussion will help integrate the two countries in social and economic areas as well as people-to-people exchange.
Raby, another co-chair of the talks, called on the two countries to actively promote the negotiations so that they proceed in a quick way.
Source: Xinhua