China and Australia sign MoU to revive strategic economic dialogue

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17th June 2024 – (Canberra) The governments of China and Australia have taken a significant step towards revitalizing their strategic economic dialogue by signing a Memorandum of Understanding (MoU) on Monday. The focus of this renewed dialogue will be on addressing forward-looking economic issues and fostering practical and effective cooperation.

The National Development and Reform Commission (NDRC), China’s leading economic planner, confirmed that both nations have agreed to enhance communication and exchange in order to strengthen economic ties. The signing ceremony, which marked this important milestone, was attended by leaders from both countries. Liu Sushe, the deputy head of the NDRC, and Treasurer of Australia Jim Chalmers represented their respective governments during the event.

Chinese Premier Li Qiang, while in the Australian capital of Canberra, expressed China’s willingness to enhance coordination and cooperation with Australia on regional and international levels. He emphasized the importance of avoiding confrontations between opposing camps and discouraged the emergence of a “new Cold War.”

Li made these remarks during the ninth China-Australia Annual Leaders’ Meeting, in which he engaged with Australian Prime Minister Anthony Albanese. The meeting provided an opportunity for both leaders to discuss various matters of mutual interest and explore avenues for collaboration.