Australian exporters to China should start seeing tariffs fall by the end of the year, following a deal between Labor and the coalition.
Trade Minister Andrew Robb and his Labor shadow Penny Wong on Wednesday struck a deal to allow the China-Australia free trade agreement to clear parliament.
Opposition Leader Bill Shorten said the deal, supported by the Labor caucus, delivered "proper" legal safeguards for Australian jobs without changing the substance of the agreement.
However, unions have vowed to keep campaigning for stronger safeguards for Australian workers and better skills testing of foreign workers.
The enabling laws are due to pass parliament's lower house on Thursday morning, after a fast-tracked debate and to go to the Senate on November 9.
The breakthrough came with the government agreeing to put into regulation labour market testing for jobs on major projects and setting the "market salary rate" for 457 visa workers at the applicable enterprise bargaining agreement rate.
As well, foreign workers must obtain an occupational licence within 90 days to get a 457 visa.
Asked how this differed to current immigration department policy, Senator Wong said: "What we have got is policy being turned into regulation."
Mr Robb said the deal would not impose any extra red tape on business and he had assured Beijing officials it did not discriminate against China.
The government also agreed to bring forward a review into the base rate of pay for 457 visa holders, currently $53,900, and whether it should be indexed.
Some Left faction members spoke against the deal in caucus on Wednesday.
Prime Minister Malcolm Turnbull said the bipartisan deal marked a great day for business confidence.
"I described the leader of the opposition on one occasion as just a cork bobbing along in the slip-stream of the CFMEU," he told parliament.
"Well, I have to say today the leader of the opposition has struck out from the slip-stream and charted a course that is plainly in the national interest."
Australian Chamber of Commerce and Industry chief Kate Carnell said it was a welcome end to weeks of uncertainty.
But it was "disappointing" the deal would lead to unnecessary regulation on employers accessing the temporary skilled migration program.
ACTU president Ged Kearney said companies would still be able to source workers from overseas without offering jobs to local citizens and residents.
"While we appreciate the efforts of Penny Wong and Bill Shorten to fix a bad deal, the proposed changes simply do not go far enough," she said.
Minerals Council chief executive Brendan Pearson said the deal would eliminate about $600 million in tariffs - which now range between 1.5 per cent and 10 per cent - on 11 minerals and energy commodities.
Australia's mining services could also break into the Chinese market more easily.
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