Sydney: Australia and China, which may trade goods worth A$100 billion (Dh329 billion) this year, opened new free trade negotiations in Canberra on Wednesday.
More than 30 officials from China are attending the talks, which will continue until February 26, according to a spokesman for Trade Minister Simon Crean who declined to be named.
A free trade agreement between the two countries would boost the Australian economy by more than A$146 billion over 20 years, according to a study by the Centre for International Economics, prepared for the Australian China Business Council. The countries agreed to start negotiating in 2005 and this week's talks are the 14th round of discussions.
The main stumbling block remains differences over agriculture, Crean said on February 16.
Trade between Australia and China may rise to as much as A$100 billion this year from A$86 billion in the 2009 financial year, according to Austrade, the government's trade and investment development agency.
Largest market
China became Australia's largest merchandise export market for the first time last year with exports to the world's third-biggest economy rising 31 per cent compared with 2008, the Department of Foreign Affairs and Trade said on February 3.
Relations between the two countries were strained in 2009 over a failed investment deal with Rio Tinto Group and the detention of Rio employee Stern Hu by China.
The last round of free trade negotiations was held in December 2008.
