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Building bilateral trade between Australia and China
With
Parramatta being the defacto capital of
Western Sydney,
Australia’s third largest economy, it became a coup when
China offered
Parramatta to be associated with its trading city, Yiwu, the world’s largest consumer goods market.
No longer are the compulsions strong for local Councillors wanting to create sister city relationships. Being the already culturally diversed community that we are, existing sister city relationships are maintained but not expanded.
Instead, Australian leaders are in the market for trade. And as
China emerges as
Australia’s largest trading partner with $52.7billion worth of trade annually, relationships with
China will contribute towards both nations’ economies.
In
Parramatta, His Excellency Consul-General HU Shan indicated in 2008 that following the change in majority on Parramatta City Council, the Council is now more open to business. In the past, some Councillors were “distracted” with foreign policy which is the domain of our Federal Parliament, rather than focussing on local issues like jobs and the local economy.
With this change of focus, Parramatta City Council embarked on discussions to re-engage with
China on the principle that
Parramatta and Yiwu can become the trade hub for the other. In other words, it is envisaged that
Parramatta and Western Sydney based businesses will use
China’s Yiwu as their hub to facilitate trade into
China and the rest of the world. Yiwu and Chinese based businesses will use
Australia’s
Parramatta as their hub to facilitate trade into
Australia.
But Parramatta City Council cannot do this on its own. As such, Western Sydney’s very own Asia Business Connection has been called upon to assist in bringing local businesses to join in this endeavour,
Australia’s first from a regional leadership perspective.
Parramatta and Western Sydney businesses are currently being recruited to be part of the first trade delegation to visit the Chinese city of
Yiwu. Ably assisted by the Asia Business Connection, officers from Austrade and the NSW Department of State and Regional Development, a number of
Australia’s big banks are also being recruited to value-add this delegation.
Should you be interested in becoming involved in this trade delegation, please contact me via
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.
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Instead, Australian leaders are in the market for trade. And as
