China has lifted the last of its trade "suspensions" on Australian red meat. This move effectively dismantles one of the final barriers in a costly trade dispute that had impacted approximately Aus$20 billion (US$13 billion) worth of Australian exports.
The resolution of this dispute marks a pivotal step in mending economic relations between the two nations.
Australian Trade Minister Don Farrell expressed optimism about the future of bilateral trade, stating, "We are close to the point where China’s trade impediments which impacted Aus $20 billion worth of Australian exports have all been removed."
The lifting of these trade restrictions follows a series of diplomatic efforts aimed at easing tensions and restoring robust trade relations between China and Australia.
This progress is expected to lead to strengthened economic cooperation and stability, benefiting both countries' economies.
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