Trilateral Trade Agreement Australia

iPhones, cars, furniture could all become more expensive if our trade with China stops. At the first meeting of the two countries` foreign ministers in nearly three years, China also expressed its willingness to work more closely with Canberra to develop trade and economic relations. It also indicated that the decision to reject Hong Kong CK Group`s offer of APA would not prejudice the relationship. As Australia`s trade relationship with Beijing continues to deteriorate, Canberra is increasingly seeking to reduce its heavy economic dependence on exports to China. Image: NCA NewsWire /Gary RamageQuelle:News Corp Australia NEW DELHI — Japan, India and Australia agreed Tuesday to launch an initiative to achieve supply chain resilience in the Indo-Pacific region to reduce trade dependence on China – an important trading partner for the three nations. Another area at the top of the AJI agenda is maritime security and the guarantee of the freedom of the seas in the Indo-Pacific region. These are not only sailors and formal security cooperation, but also the important notion of “standard entrepreneurship,” as the USAsia Report indicates. The trilateral will therefore strive to promote respect for international law and a free, open, rules-based and inclusive domestic law. The hope is that the three nations will end up thinking of joint military exercises, or even coordinated patrols in the Indo-Pacific space. India has long opposed such measures, but China`s aggressiveness at the borders and elsewhere should make New Delhi more favourable to consider bolder measures. On the way behind us, a problematic and strong dependence on a single, sometimes belligerent trading partner consumes almost half of all Australian exports. The idea of the Australia-Japan-India trilateral (AJI) is not new.

The three countries had their first trilateral dialogue in June 2015. The meeting was attended by S. Jaishankar, then Minister of Foreign Affairs of India, and Akitaka Saiki, Japan`s Deputy Foreign Minister, and Peter Varghese, Secretary of the Australian Department of Foreign Affairs and Trade. Maritime security and freedom of navigation were one of the dominant topics of discussion, which remains the case five years later. Indeed, the common concerns of the three nations on the maritime front have only increased because of China`s recent confident attitude in the region. While the Indo-Pacific region has an alphabetical soup of mini-Latins and formal arrangements, the AJI trilateral seems to be one of the strongest despite some challenges. A recent report by the UsAsia Centre in Perth on the trilateral highlights the potential of the trilateral as well as some of the challenges that remain. Nevertheless, the decision to launch a trilateral supply chain initiative is an indicator of the achievable agenda that the AJI could follow in the years to come. “We agreed to be able to pool our respective strengths and use them to conduct trilateral cooperation with the participation of Pacific Island States. This type of trilateral cooperation could become a new climax, a new area of China-Australia cooperation.¬†Unlike a trade agreement on garden diversity, which can sometimes last more than a decade, the Japanese government is working to bring this initiative to life as quickly as possible. With sources who said that Tokyo was already in November for the launch of the initiative. Recently, trade ministers from Australia, Japan and India agreed to develop a supply chain resilience program for the Indo-Pacific region.

The announcement, which followed a video conference between Australia`s Simon Birmingham, Japan`s Kajiyama Hiroshi and India`s Piyush Goyalin in early September, came amid growing recognition in the three nations of the dangers of over-reliance on China. While the details of the initiative are not yet clear, the three countries have instructed their respective bureaucracies to look for ways to develop an initiative that would strengthen

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