Australia wants to deepen cooperation with China: Australian minister

Australia wants to further its work with China in various fields, said a senior Australian official.

Australia also wants to work together with China on improving the WTO to help the world economy better develop, the official added.

Simon Birmingham, Australia's Minister for Trade, Tourism and Investment, said in a speech that China's economic development has benefited not only Australia, but the whole world, and that Australia will "stand firm in continuing to welcome China's economic growth".

He said China's reform and opening-up since 1978 is "rightly celebrated around the world", and with its economic achievements, China has had "a very large impact on international economy and trade arrangement".

He said the Belt and Road Initiative has contributed significantly to the Asia-Pacific region, particularly in infrastructure connecting regions and countries.

Birmingham delivered the speech during a roundtable discussion in Beijing on Friday. It was hosted by the Center for China and Globalization, a nongovernmental think tank in China.

The minister said out that Australia and China have a long-term relationship in trade and cultural communication, and his country wants to further economic relations with China to "provide even more mutual benefits".

He said the Australian government and businesses are working hard together to further improve trade relations with China, and there is still room for growth.

According to China's Ministry of Commerce, China in 2018 had a direct investment of $2.94 billion in Australia, while Australia established 462 companies in China with an actual investment of $290 million.

Trade volume between China and Australia in 2018 was $152.79 billion, a year-on-year increase of 12 percent.

China's exports to Australia were valued at $47.34 billion, and imports from Australia were $105.45 billion.

Birmingham called on China, as well as others, to help improve the functionality and responsiveness of the World Trade Organization so as to advance the interests of stakeholders "in a strong, stable and modern international trading system".

"There is an opportunity for us to work together to help the WTO to better reflect the changing role in emerging economies, while still accommodating the absolute necessity for continued growth in those economies."

He said China's own experience has demonstrated that trade is an essential engine of development.

"Australia wants a good and growing relationship with China. We will have our disagreements from time to time, but throughout, we should cooperate for our mutual benefit," Birmingham said.