Australia is preparing to sign a phased free trade agreement with China. On the one hand, Prime Minister Albert can abide by the deadline set by him. On the other hand, it will also give both parties more time to resolve disputes.
The Australian Financial Review's information source said that the agreement will be signed in Canberra on Monday. It will be a "comprehensive" and "milestone" agreement, but with the "development of the relationship between the two parties and the economy" more content can be added.
The first step of the agreement will include service industries and agriculture, as well as part of foreign investment, but it will not involve much of the labor market proposed by China.
In recent years, despite high tariffs, China's purchase of Australian agricultural products has gradually increased, which makes it not difficult for Beijing to make a decision to reduce tariffs on dairy products, beef and alcohol.
In comparison, China's service industry is relatively underdeveloped, and the government is unwilling to introduce too much competition from foreign companies.
Although Trade Minister Andrew Robb said over the weekend that Australia has allowed Beijing to make more concessions in the service sector compared to other countries, this issue needs to be further advanced in the next few years.
Albert hinted at the APEC summit in Beijing on Monday that Australia would sign a phased agreement. He likened the process to building a house.
The agreement is expected to be signed next week after the G20 summit in Brisbane.