SINGAPORE – Australia will continue to advocate for its national interests, but would like to improve strained relations with China, Australian Treasurer Josh Frydenberg said on Monday.
“The China-Australia trade relationship is … very important,” Frydenberg told Will Koulouris of CNBC. “It’s mutually beneficial. Our resources have helped support China’s economic growth, and we welcome that.”
“At the same time, China has been a very important market for Australia, and our exports to China have helped increase revenue here in Australia – it has been an important source of revenue and job creation,” Frydenberg told CNBC , as part of the coverage of the Davos Agenda network.
The relationship between the two major trading partners deteriorated last year, when Australia backed an international inquiry into how China treated Covid-19, which was first reported in the Chinese city of Wuhan.
… historically, we have had a very good partnership with China and we would like to continue
Josh Frydenberg
Australian Treasurer
The national flags of Australia and China are displayed in front of a portrait of Mao Zedong facing Tiananmen Square.
Frederic J. Brown | AFP through Getty Images
For his part, Frydenberg said Australia has a clear sense of its own national interests in the areas of security, foreign investment and human rights.
“We will continue to advocate and express Australia’s national interest, but this should not hinder strong relations in the region again and, historically, we have had a very good partnership with China and we would like to to continue, “he added.
US and its “indispensable” role
Frydenberg said his government is looking forward to working with new US President Joe Biden and explained that the strength of the Australia-US alliance does not depend on the leader in power in any country.
“The relationship has been strong and lasting – based on mutual respect, based on common values and certainly on common interests,” he said, adding that the United States has an “indispensable role in our part of the world, in Asia-Pacific.” . “
We look forward to a very constructive relationship between the US and Australia and it is one that is extremely important, not only for Australia, but for the United States.
Josh Frydenberg
Australian Treasurer
Under former President Donald Trump, the United States seemed to be withdrawing from a position of influence in the Asia-Pacific region.
Trump withdrew the US from the trans-Pacific partnership agreement, and Washington did not participate in the comprehensive regional economic partnership – signed by China and 14 other Asia-Pacific countries, which would represent about 30% of the world’s population and global economy.
“We look forward to a very constructive relationship between the US and Australia and it is one that is extremely important, not only for Australia but also for the United States,” Frydenberg said.