Since the signing of the China-Australia Free Trade Agreement (ChAFTA) in Canberra on 17 June 2015, Australian and Chinese companies have begun to look to each other as potential trade partners. The agreement takes effect from 1 January 2016.
This should be a boost for the Australian economy, as China is our biggest trading partner. The agreement opens the way for Australian businesses to expand into overseas export. This is especially significant for industries such as agriculture which have been disadvantaged because they have had to compete for trade against nations who have had a Foreign Trader Agreement in place.