The Australian manufacturing industry should turn its focus to its role in supporting Chinese investment and how it can become a pivotal part of China’s supply chain ahead of the outcome of the Free Trade Agreement with China to be signed this afternoon.
“Reduction of tariffs set to be around five percent or less, with little in the way non-tariff barriers under the China FTA agreement, will not in its own right have a significant impact on the current Australian manufacturing trend.
“The industry should instead focus on how we develop relationships with China and capitalise on such relationships to benefit most from the anticipated FTA initiatives.
“We must understand how we can play a role in supporting Chinese investment within Australia and become a relevant part of its supply chain,” said Mark Phillips, National Head of Manufacturing, Grant Thornton Australia.
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