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China and Australia agree to improve bilateral relations

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The cost of coal on the world market may start to rise again if China lifts a politically motivated blockade on fuel supplies from Australia. This, in turn, can become an incentive for rising steel prices in Asia.

China and Australia agree to improve bilateral relations

Chinese State Councilor and Foreign Minister Wang Yi met with his Australian counterpart Penny Wong on Friday after the meeting of the G20 foreign ministers on the Indonesian island of Bali. The parties agreed to remove the obstacles existing in bilateral ties and return relations to the “right track”.

Wang Yi said that Sino-Australian relations face both challenges and opportunities. The healthy development of interstate ties is in the interests of the peoples of both countries and will help maintain peace and stability in the Asia-Pacific region.

"On the occasion of the 50th anniversary of the establishment of diplomatic relations between China and Australia, the Chinese side is ready to review and reset bilateral relations on the basis of mutual respect and make efforts to return them to the right track," said Wang Yi.

P. Wong said that Australia and China are comprehensive strategic partners with extensive associations and frequent economic and trade exchanges that benefit the people of both countries.

According to her, the new Australian government will continue to adhere to the policy of one China and hopes to use the 50th anniversary of the establishment of diplomatic relations to build more stable and mutually beneficial relations between the two countries.

P. Wong stressed that Australia does not seek to expand differences with China or join the policy of containing China.

Australia, based on the respect of the two countries for each other and adhering to a rational and pragmatic approach, will maintain constructive contacts and exchanges between the parties, enhance mutual trust, expand cooperation on the basis of mutual equality and work to remove existing barriers in bilateral relations, said she.

During the meeting, Wang Yi pointed out that the main reason for the difficulties in bilateral relations over the past few years was the former Australian government's attitude towards China as a rival or even a threat, allowing itself to make irresponsible statements and actions against China.

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He expressed hope that the Australian side will take advantage of the opportunity and take steps to improve bilateral ties.

Wang Yi urged Australia to add positive to the development of bilateral relations, consider China as a partner rather than a rival, put aside differences and seek common ground, not target each other and reject manipulation by third countries, and build public support that differs positivity and pragmatism.

The parties also exchanged views on issues related to Pacific island states.

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