Trade Minister Andrew Robb is confident the free trade agreement with China will be completed this year.
Mr Robb and Treasurer Joe Hockey are in Beijing this week for the inaugural Australia-China Strategic Economic Dialogue.
Part of that visit included discussions with the chairman of the National Development and Reform Commission (NDRC), Xu Shaoshi, a body that plays a central role in setting China's strategic economic direction and manages investment within and outside China.
Mr Robb said the chairman has indicated the NDRC will be active in concluding the FTA.
"The conclusion was it was do-able this year, it could be completed and both governments are determined to bring it to completion later this year," Mr Robb told reporters.
Earlier this year, Prime Minister Tony Abbott signed FTAs with South Korea and Japan, which allow for liberalised two-way trade with Australia.
Mr Hockey said the meeting had been very productive where discussions included the economic growth target that was agreed in Sydney earlier this year under Australia's G20 2014 presidency.
There was also an aim for closer financial relations, including Australia's desire to have a clearing bank for renminbi trading.
"There are tremendous opportunities to deepen the relationship at a number of levels, in particular expanding services exports from Australia to China," Mr Hockey said.
Under a suggestion made by Chairman Xu, there was an agreement to create an investment co-operation framework which is expected to be completed by the time of the G20 summit in November.
"It will give us a significant road map going forward on significant investment issues," Mr Robb said.
Share
