Turnbull banks on e-commerce and services for trade
Print Edition
SERVICES and the development of e-commerce will rekindle trade and investment between Australia and China, visiting Australian Prime Minister Malcolm Turnbull said yesterday.
“Chinese companies, including Alibaba and JD.com, are world leading e-commerce platforms, which provide access to this market for small and medium-sized Australian exporters,” Turnbull said at a lunch with Australian and Chinese business executives. “Already it’s estimated the Chinese e-commerce market is larger than that of the United States.”
Australian exports of beef, dairy, fruit and sea food have been boosted through the e-commerce channel.
China’s initiatives to shift to a consumer-driven economy and its emphasis on technological innovation will also boost the export of services, he said.
“There will be even bigger gains in services. Lawyers, educators, financial service providers, engineers, designers, planners, architects, all will find it now much easier to do business in China,” he said. “The potential is enormous, and that’s why for example 134 representatives of our aged-care and health sectors are with us here today.”
Turnbull is accompanied by a 1,000-strong business delegation led by Trade Minister Steve Ciobo on a five-day visit to 10 cities in China that ends today.
The trip is set to reap A$1 billion (US$772 million) in exports and A$3 billion in investments to Australia.
China is Australia’s largest trading partner while Australia is China’s second-largest overseas investment destination.
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