China and Australia signed a Free Trade Agreement

Almaty. June 17. Silkroadnews - China and Australia signed a free trade agreement after ten years of negotiations, reported RBC.
"The agreement will concern simplifying the procedure for consideration of investment and access to the service market", - says the publication.
Thus, 85.4% of goods sold between the two countries will be subject to zero tariffs. About 97% of Australian exports to China will be subject to a zero tariff, including beef, dairy products and wine. Also, as expected, eventually Australia will fell to zero duties all products imported from China.
As noted, China is a major exporter of telecommunication equipment, computers, furniture and clothing to Australia. Australia also exports to China the iron ore, coal, gold, copper and agricultural products. According to official data, the volume of trade between the two countries increased from $88.1 billion in 2010 to $136.9 billion in 2014.