Prime Minister Tony Abbott Wants A Free Trade Deal With China Signed Within A Year

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Australian Prime Minister Tony Abbott wants a free trade deal with China signed within 12 months.

Abbott met with Chinese President Xi Jinping at the APEC summit in Bali on Sunday, and told reporters it was a priority to finalise the stalled deal with Asia’s biggest economy.

Negotiations have been ongoing since 2005, and while Abbott wants a deal to be as “comprehensive as possible” he also said he had “always taken the view that you should take what you can get today and pitch for the rest tomorrow, when you have a strong foundation to build upon,” according to The Australian.

A free trade deal with China faces some hurdles though.

One of the reasons it had not already been signed was disagreements over agriculture investment, which the Coalition has made tougher after it lowered the Foreign Investment Review Board threshold for examining purchases of agricultural land to $15 million, and to $53m for agribusiness.

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