Following the signing of the China-Australia Free Trade Agreement (ChAFTA), Australia's "largest ever trade mission" composed of representatives from more than 1,000 Australian businesses will be arriving in China this month, the Xinhua News Agency reported.
The trade mission, which coincides with Australia Week in China (AWIC), will "underscore the powerful effect of the ChAFTA," signed in late 2015, according to Australian Trade Minister Steven Ciobo.
The report said that the trade mission will be held from April 11-15, in which the delegation of Australian business leaders is expected to travel to Beijing, Hong Kong, Guangzhou, Hangzhou, Shanghai, Shenzhen, Shenyang and Xiamen.
For Australia, it would serve as an opportunity to showcase its best industries to China, Ciobo said.
"Australia Week in China (AWIC) will explore new opportunities for business arising from improved access and the tariff reductions negotiated through the ChAFTA," Ciobo said on Monday, April 4.
"Activity is scheduled across eight business streams: agribusiness, financial services, health and aged care, innovation, education, urban sustainability and water management, premium food and beverage and tourism," the minister said. "An exciting element of AWIC will be our first ever innovation-focused program, which will bring together Australia's and China's fast-developing innovation ecosystems for the first time."
As Australia is set to launch a tourism campaign to promote its coastal areas and aquatic resources, the country would gain benefits from the event, the minister said.
The minister added that the tour is expected to bring remarkable benefits to the Australian economy as business leaders will present Australia as a "premium" destination for investment, tourism and education.
"The first trade mission (in 2014) translated into significant trade and investment outcomes for Australia--around $760 million in export sales were generated and more than $2.4 billion in investment followed the event," Ciobo said.
"We anticipate that the breadth and scale of AWIC 2016 will generate similar outcomes and be the catalyst for significant export sales and investments into Australia, further driving jobs and growth," the minister added.
The minister expressed optimism that the ChAFTA would bring more investment and trade opportunities between the two countries.