SINGAPORE – Australia will continue to defend its national interests, but would like to see strained relations with China improve, Australian treasurer Josh Frydenberg said on Monday.
“The China-Australia trade relationship is … very important,” Frydenberg told Will Koulouris of CNBC. “It is mutually beneficial. Our resources have helped to sustain China’s economic growth and that is welcome.”
“At the same time, China has been a very important market for Australia and our exports to China have helped to increase income here in Australia – being an important source of revenue and job creation,” Frydenberg told CNBC, as part of network coverage of the Davos Agenda.
The relationship between the two main trading partners deteriorated in the past year, when Australia supported an international investigation request on the handling of Covid-19 by China, which was first reported in the Chinese city of Wuhan.
… historically, we had a very good partnership with China and we would like to see this continue
Josh Frydenberg
Australian Treasurer
The national flags of Australia and China are displayed in front of a portrait of Mao Zedong facing Tiananmen Square.
Frederic J. Brown | AFP via Getty Images
For his part, Frydenberg said that Australia has a clear sense of its own national interests in the areas of security, foreign investment and human rights.
“We will continue to defend and defend Australia’s national interest, but this should not, once again, prevent strong relations in the region and, historically, we have a very good partnership with China and we would like to see this continue,” he added.
USA and its ‘indispensable’ role
Frydenberg said his government is eager to work with the new president of the United States, Joe Biden, and explained that the strength of the Australia-US alliance does not depend on which leader is in power in each country.
“The relationship has been strong and lasting – based on mutual respect, based on shared values and, certainly, shared interests,” he said, adding that the United States has an “indispensable role in our part of the world, in Asia. Pacific.”
We hope to have a very constructive relationship between the USA and Australia and it is extremely important, not only for Australia, but for the United States.
Josh Frydenberg
Australian Treasurer
Under former President Donald Trump, the U.S. appeared to be withdrawing from a position of influence in the Asia-Pacific region.
Trump withdrew the U.S. from the Trans-Pacific Partnership agreement and Washington did not participate in the huge Comprehensive Regional Economic Partnership – signed by China and 14 other Asia-Pacific countries that would represent about 30% of the world’s population and the global economy.
“We expect a very constructive relationship between the United States and Australia and it is extremely important, not only for Australia, but also for the United States,” said Frydenberg.