Signed! Signed! These things you need to know about the Australia-China Free Trade Agreement
"Chinatown"-Official media of Chinese Australians
Australian Minister of Trade and Investment Andrew Robb and Chinese Minister of Commerce Gao Hucheng, representing the two governments, formally signed the "Australian Government and the Government of the People's Republic of China Free Trade Agreement" today in Canberra, the Australian capital.
Australian Ambassador to China Sun Fangan said: "The China-Australia Free Trade Agreement was officially signed today in Canberra, the capital of Australia. I am very honored to participate in the signing ceremony of the agreement and witness this important event in Australia-China relations. I believe, With the signing and gradual implementation of this agreement, the trade relationship between Australia and China will surely deepen and develop, bringing many benefits to the people of the two countries."
- The 77 private higher education institutions and institutions that have been registered in the Australian Federal Government’s Institutions and Curriculum Registration System (CRICOS) for overseas students will be posted on the website of the Chinese Ministry of Education. This means that Australian educational institutions and institutions recognized by the Chinese Ministry of Education The number of institutions will increase to 182 (currently 105).
- Australia and China will sign a memorandum of cooperation to promote mutual recognition of higher education qualifications between the two countries.
- Australia and China will further explore the promotion of exchange of visits between teachers and students and exchanges between institutions.
In addition, the Australian government will provide 18 holiday work visas to Chinese youths who are over 31 but under 5000 years of age and who have a higher education degree or have successfully completed at least two years of university undergraduate study. 462 visa). Holders of this visa can take short-term work during their visit to Australia and receive no more than four months of study or training. This will also strengthen the mutual understanding between the youth of the two countries.
Australia promised to open its service sector to China through a negative list when the agreement came into force, becoming the first country in the world to make a service trade commitment to China through a negative list. The Chinese side opened up its service departments to Australia in the form of a positive list. In addition, Australia has made special arrangements for China in terms of holiday working mechanisms.
The two sides will give each other most-favored-nation treatment when the agreement comes into effect; Australia will also lower the review threshold for Chinese companies to invest in Australia and make facilitation arrangements. In addition, the agreement also includes more than a dozen fields including e-commerce, government procurement, intellectual property rights, competition and other "XNUMXst century economic and trade issues", and it makes provisions on the promotion of bilateral exchanges and cooperation.
Both sides have products that account for XNUMX% of the export trade volume and will immediately achieve zero tariffs when the agreement comes into force. After the transitional period of tax cuts, Australia will eventually achieve zero-tariff tax items and trade volume will reach XNUMX%; China will achieve zero-tariff tax items and trade volume will reach XNUMX% and XNUMX%, respectively. This greatly exceeds the XNUMX% tax reduction level in general free trade agreements.
Of course there are many, many reciprocity happening! I believe that with the growing relationship between Australia and China, studying in Australia has unlimited future and unlimited opportunities! Waiting for you in Australia!
Article reproduced from Australian Government Education Information
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