Australian Trade Minister Tehan: Businesses must step-up to repair ties with Beijing

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Australian businesses must make efforts towards repairing ties with China, the country’s Trade Minister Dan Tehan said after launching a final joint report by Asia Society Australia and the Business Council of Australia.

Key takeaways

“A Second Chance: How Team Australia can succeed in Asia”, makes 24 recommendations on how Australia can diversify its trade across Asia by employing a “China and” rather than a “China or” strategy, while also acknowledging that Asia, with China at the forefront, “is not waiting for us”.

“When it comes to China, business must step up to the plate.”

“While [government officials]can’t deliver the message now, we need businesses to step up to deliver that message.”

“Australia will protect its national interest.”

“Looking at expanding travel bubble with Singapore.” 

AUD/USD remains vulnerable

Despite the uptick in the S&P 500 futures, the Asian equities trade mixed, offering little impetus to the AUD bulls.

AUD/USD was last seen trading at 0.7610, neutral on the day.

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