Federal Agriculture Minister of Australia Joe Ludwig has emphasised the significance of Australia's wool trade with China during a roundtable dialogue with Chinese wool industry representatives in Shanghai.
The Australian Minister's visit to China this month formed a part of an event organized by the Australian Wool Innovation (AWI). The event also saw participation of several Chinese wool industry members.
Wool is Australia's highest exported agricultural produce and China is a major importer of Australian wool. China domestically consumes around half the wool so imported from Australia each year.
Australia's wool exports to China came to US$ 2.24 billion during last fiscal, which signified around 43 percent of Australia's overall agricultural, forestry and fishery exports to China for the period.
According to Senator Ludwig, trade links with China are of much importance for Australia's agriculture industry as the association has benefited both the Australian as well as Chinese customers.
He said the event afforded the participants with an opportunity to deliberate on important issues and prospects for the wool industry and also to better understand the requirements of their trading partners.
Australian wool serves as a raw input for the Chinese textile industry, which also engages several Chinese workers in garment manufacturing, which are largely consumed domestically in China and also exported across the globe.
China and Australia share a long history of working together on wool by means of exchange of delegations, Mr. Ludwig said, and added that Australia would like to strengthen this association further.
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