Memorandum of Understanding between the Ministry of Commerce of the People’s Republic of China and the Department of Foreign Affairs and Trade of Australia Regarding Further Enhancing the Implementation of China-Australia Free Trade Agreement in 2024-25

The Ministry of Commerce of the People's Republic of China and the Department of Foreign Affairs and Trade of Australia:

HIGHLIGHTING the positive role of the Free Trade Agreement between the Government of the People's Republic of China and the Government of Australia ("ChAFTA") in elevating the bilateral economic and trade relationship since its entry into force in 2015;

WELCOMING the high levels of utilisation of ChAFTA by business in both countries, and the cooperation between the governments on its implementation;

ACKNOWLEDGING the resumption of the Joint Commission and the positive outcomes delivered in the second meeting of Joint Commission held in Canberra on 16 April 2024, as well as the meetings of subsidiary committees held in 2023;

ACKNOWLEDGING their intention to further enhance the implementation of ChAFTA, through the Agreement's built-in agenda, with a view to improving the trade and investment relationship between the two countries;

Enter the following arrangements:

1. To further strengthen the implementation of ChAFTA through existing mechanisms to realise its full potential in consolidating the bilateral economic and trade relationship.
2. Subsidiary committees will consider and discuss General Review commitments set out in Article 16.5 and Chapter Reviews set out in Article 8.24 and Article 9.9 and provide recommendations to the next meeting of Joint Commission, with a view to furthering the objectives of ChAFTA.
3. Continue to work towards resolving the issues of concern to each side through ChAFTA's subsidiary committees.
4. Resume annual exchanges of preference utilisation data to enable better understanding of the utilisation of ChAFTA.
5. Convene regular meetings of subsidiary committees at mutually agreeable times. Hold the next regular meeting of Joint Commission in the second quarter of 2025.
6. Maintain regular contact between officials and undertake close cooperation under the framework of ChAFTA to ensure the high-quality implementation of the Agreement.
7. This Memorandum of understanding covers the 2024-25 work period for ChAFTA.

SIGNED in Canberra, on 17th day of June in the Year Two Thousand and Twenty-Four in two original copies, one in the English Language and one in the Chinese Language, all texts being equally valid. In the event of a difference of interpretation, the English text will prevail.