In a major win for Labor ahead of the 2025 federal election, Prime Minister Anthony Albanese and Chinese Premier Li Qiang met in Laos this week and reached a deal to allow Australian rock lobster exports back into China by the end of the year.
Beijing slapped sanctions on $20 billion worth of Australian products during heightened tensions in 2020, after the previous Morrison government called for an inquiry into the COVID-19 pandemic.
Today Trade Minister Farrell and I visited Ferguson Australia to see the live rock lobsters they're getting ready to sell to China following our deal to resume exports. Businesses like these, and their workers, are who the Albanese Government has been determined to deliver for. — Senator Penny Wong (@SenatorWong) pic.twitter.com/D7i2mTfZPPOctober 11, 2024
Barley, beef, wine and lobster were all affected by the duties, with the latter two industries crippled by the loss of the Chinese market.
Rock lobster exports were worth more than $700 million, and the loss of trade impacted more than 3000 Australians employed in the industry.
Since Labor took office in 2022, the government has secured the gradual removal of almost all the bans.
Only two beef producers out of an original group of 10 meat facilities remain suspended, with continuing work under way to have these lifted.
Following the removal of the duties on eight establishments, Australia has exported $1.6 billion worth of beef to China.
Backing in the government's foreign policy approach, Mr Albanese said the win was achieved "through calm, careful diplomacy".
Chinese Premier Li Qiang and Anthony Albanese have reached a deal to resume rock lobster exports. (Richard Wainwright/AAP PHOTOS)
Senator Farrell, who will travel to Fremantle on Saturday, said the government had delivered for the nation's farmers, producers and businesses.
"The Albanese government's calm and consistent approach to stabilising our relationship with China has paid dividends," he said.
Senator Farrell repeated the government's long-held message, urging businesses to "future-proof their operations" by taking up new diversification opportunities created by Labor.
China is Australia's largest trading partner, and total two-way trade hit a record $327 billion in 2023.
In September, the government struck a free-trade deal with the United Arab Emirates as it seeks to open up new markets for Australian exporters.
