2015年CRI China-Australia FTA to Take Effect

 

Under the Free Trade Agreement, or FTA, nearly 86 percent of the two countries' export products will see a tariff¹ reduction to zero on Sunday. Starting January 1 next year, a second round of tariff reduction will take effect.

Member of Australia's House of Representatives David Coleman quite enthusiastically welcomed the FTA.

"It's actually very hard to say what's the No. 1 benefit, because there are so many benefits right across the Australian economy. It also means a close relationship and friendship with China, and that's really important too. It's incredibly important that we have a very strong friendship and a strong and mutually beneficial relationship. So the free trade agreement is great news for Australia. And certainly, [I'm] very pleased that it is now coming into force."

Analysts² say the FTA will make Australian products more competitive in winning Chinese markets. Australian former foreign minister Bob Carr said it will help Australia gain benefit from the growth of the Chinese economy.

"It's very very important, a milestone³ in the relationship between Australia and China. It points to more economic integration⁴ between Australia and China. This is Australia having a stake in the nearly emerging, mature, modern, global Chinese economy."

Australians also expect more benefits in boosting its agriculture. According to official data, Australia's agricultural exports to China reached nearly 48 billion yuan, or around 7.5 billion USD, in the last fiscal⁵ year. China has become the largest export market for Australian agricultural products.

With the FTA taking effect, about 30 percent of tariffs⁶ on Australian agricultural exports will be exempted⁷, worth nearly 1.5 billion yuan, or 230 million USD. The move is expected to significantly benefit Australian agricultural and animal husbandry companies.

China's Ministry⁸ of Commerce spokesperson Shen Danyang says the FTA is welcomed with equal anticipation⁹ by the Chinese side.

"The agreement taking effect will further expand trade and investment between China and Australia, promote trade facilitation, boost the free flow of goods, capital and people between the two countries, and bring benefits to the enterprises and peoples of the countries. The agreement will help maintain close bilateral¹⁰ trade relationship, push forward economic growth of the two countries, and provide important content to enrich all-round strategic partnership¹¹ between China and Australia."

The China-Australia FTA talks began in April 2005, and the agreement was officially signed in June 2015.

For CRI, I'm Victor Ning.

1 tariff   

n.关税，税率；(旅馆、饭店等)价目表，收费表

参考例句：

• There is a very high tariff on jewelry.宝石类的关税率很高。
• The government is going to lower the tariff on importing cars.政府打算降低进口汽车的关税。

2 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

3 milestone   

n.里程碑；划时代的事件

参考例句：

• The film proved to be a milestone in the history of cinema.事实证明这部影片是电影史上的一个里程碑。
• I think this is a very important milestone in the relations between our two countries.我认为这是我们两国关系中一个十分重要的里程碑。

4 integration   

n.一体化，联合，结合

参考例句：

• We are working to bring about closer political integration in the EU.我们正在努力实现欧盟內部更加紧密的政治一体化。
• This was the greatest event in the annals of European integration.这是欧洲统一史上最重大的事件。

5 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

6 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

7 exempted   

使免除[豁免]( exempt的过去式和过去分词 )

参考例句：

• His bad eyesight exempted him from military service. 他因视力不好而免服兵役。
• Her illness exempted her from the examination. 她因病而免试。

8 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

9 anticipation   

n.预期，预料，期望

参考例句：

• We waited at the station in anticipation of her arrival.我们在车站等着，期待她的到来。
• The animals grew restless as if in anticipation of an earthquake.各种动物都变得焦躁不安，像是感到了地震即将发生。

10 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

11 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。