China to resume lobster imports from Australia

China is planning to resume imports of Australian live lobsters by the end of the year, a significant step toward normalising bilateral trade relations after the 2020 trade barriers, which cost Australian exporters over AU$20 billion annually.

Australian Prime Minister Anthony Albanese announced on Thursday that the agreement to resume lobster trade is a positive development for both countries and reflects the progress made in stabilising their relationship.

While China has expressed concerns over Australia’s restrictions on certain Chinese investments, Albanese assured that Australian national interests will always be prioritised in bilateral discussions.

The ban on Australian lobster exports to China was part of a series of trade restrictions imposed by Beijing in response to deteriorating diplomatic relations. The conservative government of Scott Morrison had angered China by calling for an independent investigation into the origins of the COVID-19 pandemic.

The resumption of lobster trade is expected to provide a significant boost to the Australian lobster industry, which has struggled to find alternative markets since the ban was imposed.

Attribution: AP

Subediting: Y.Yasser