Australian Trade Minister Don Farrell said Canberra is willing to talk to Beijing instead of forcing a World Trade Organization (WTO) decision on the current trade disputes with China.
« : »Australia’s government is open to discussing ways to avoid World Trade Organization (WTO) arbitration of its trade dispute with China, amid speculation of a possible meeting between Prime Minister Anthony Albanese and President Xi Jinping. In a speech in Melbourne on Monday, Trade Minister Don Farrell said Australia was willing to discuss “off-ramps” with the Chinese government instead of forcing a WTO decision on the current trade disputes between Canberra and Beijing. However, the trade minister said no matter what happens at the WTO, Australian businesses were looking at “minimising risk exposure” by diversifying away from the Chinese market. As we have discovered, over-reliance on any single trading partner comes with significant risks Don Farrell “As we have discovered, over-reliance on any single trading partner comes with significant risks,” Farrell said in his speech.
