SYDNEY, April 8 (Xinhua) -- The Australian trade minister said on Tuesday that the decade-old China-Australia Free Trade Agreement (ChAFTA) has boosted prosperity in both countries.
"The ChAFTA has made a major contribution to the prosperity, particularly in Australia, but I also like to think of China, over the past decade," Don Farrell said at a discussion assessing the deal's impact on Australian trade, labor market and strategic outcomes.
Farrell said Australia is "a great trading nation" and its economic prosperity is directly linked to open and stable international markets.
"As we face global uncertainties spurred by protectionist measures, including U.S. tariffs, we are redoubling efforts to strengthen relationships, diversify and find new opportunities," he said.
The discussion was hosted by the Australia-China Relations Institute (ACRI) at the University of Technology Sydney in partnership with the Australia China Business Council (ACBC).
James Laurenceson, ACRI director, presented the key findings of the institute's analysis with the title "ChAFTA: An Australian assessment of core outcomes a decade on" at the event.
Australia's trade and prosperity received a boost by its decade-old free trade agreement with China and Australian public support for it remains strong, according to the analysis released on Tuesday.
When the ChAFTA was signed in June 2015, the Australian government and business groups lauded its trade and prosperity-creating potential, the analysis said, adding that data over the past decade has proven their prediction.
A single purchase
