The goal of the treasurer’s trip to China is to establish a strong relationship with a local firm
The first visit by a federal treasurer to China in seven years will help to stabilise ties with Australia’s largest trading partner, Jim Chalmers says.
Chalmers is set to meet with major Chinese economic officials during his visit to Beijing on Thursday and Friday.
The meeting comes as diplomatic relations between the two countries have thawed and economic sanctions on several Australian goods such as wine and barley have eased.
The upcoming visit will be the first time an Australian treasurer has visited China since Scott Morrison in 2017.
Chalmers said the trip would aim for a firmer relationship between the two countries.
“This is part of our effort to stabilise a really important economic relationship,” he told Sky News on Sunday.
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“This is a relationship full of complexity but full of opportunity as well, and we believe that you get more out of this relationship when you engage as we have been.”
The treasurer will hold talks during the two-day visit with officials from China’s National Development and Reform Commission.
Australia’s strategic economic dialogue with China is expected to be the main focus of the discussions.
“I’ll be meeting with a number of my counterparts in order to compare notes on the economy, to work through any issues that we might have between our two economies,” Chalmers said.
“A more stable relationship, and particularly a more stable economic relationship between Australia and China is a good thing for our workers and our businesses and our investors and for our country more broadly.”
The talks in Beijing come as Prime Minister Anthony Albanese held talks with world leaders in the United States at the Quad leaders’ summit, where talks about Beijing’s influence in the Indo-Pacific have been on the agenda.
But the treasurer said managing economic ties with Beijing could come at the same time as other issues involving the Asian nation were discussed.
“Stabilising the relationship with China is a very key economic priority. We can do that while we manage the complexities in the region,” he said.
“We’ve shown an ability and a willingness to engage because we believe it’s good for our country when we engage.”
