SINGAPORE – Australia will continue to advocate for its national interests, but would like to see strained relations with China improve, Australian treasurer Josh Frydenberg said Monday.
“The trade relationship between China and Australia is … very important,” Frydenberg told CNBC’s Will Koulouris. “It is 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 contributed to higher income here in Australia – an important source of income and job creation,” Frydenberg told CNBC, as part of the network’s coverage of the Davos Calendar.
Relations between the two main trading partners deteriorated last year when Australia backed a call for an international investigation into China’s handling of Covid-19, which was first reported in the Chinese city of Wuhan.
… historically we have had very good cooperation with China and we would like to see that continue
Josh Frydenberg
Australian Treasurer
The national flags of Australia and China are displayed in front of a portrait of Mao Zedong overlooking Tiananmen Square.
Frederic J. Brown | AFP via Getty Images
For his part, Frydenberg said Australia has a clear awareness of its own national interests in security, foreign investment and human rights.
“ We will continue to advocate and stand up for Australia’s national interest, but that should not preclude, again, strong relationships in the region and historically we have very good cooperation with China and we would like to see that. , ”he added.
USA and its ‘indispensable’ role
Frydenberg said his administration is looking forward to partnering with America’s new president Joe Biden, explaining that the strength of the Australia-US alliance does not depend on which leader is in power in either country.
“The relationship was strong and lasting – based on mutual respect, based on shared values and, certainly, shared interests,” he said, adding that the United States “plays an indispensable role in our part of the world, in Asia. Ocean.”
We look forward to a very constructive relationship between the US and Australia, and it is critical not only for Australia but also for the United States.
Josh Frydenberg
Australian Treasurer
Under former President Donald Trump, the US appeared to be withdrawing from an influential position in the Asia-Pacific region.
Trump withdrew the US from the Trans-Pacific Partnership Agreement, and Washington did not participate in the massive Regional Comprehensive Economic Partnership – signed by China and 14 other Asia-Pacific countries representing about 30% of the world’s population and economy.
“We look forward to a very constructive relationship between the US and Australia, which is critical not only for Australia but also for the United States,” said Frydenberg.