Enhancing Australia's Economic Prosperity
Resources Energy Tourism Department

Resources

The Australian Government is committed to creating a policy framework to expand Australia's resource base, increase the international competitiveness of our resources sector and improve the regulatory regime, consistent with the principles of environmental responsibility and sustainable development.
Bilateral Minerals and Energy Cooperation with China

China is Australia’s largest two-way trading partner, with two-way trade valued at $83 billion in 2008-091. China is also Australia’s largest mineral export market, accounting for 33 per cent ($27.6 billion)2 of Australia’s total mineral and resources exports. Major exports to China in 2008 -09 included iron ore ($22.1 billion), copper ore ($1 billion ), crude petroleum ($468 million), nickel ore ($509 million) and coal ($3.1 billion).3

The Australia-China Bilateral Dialogue Mechanism for Resources Cooperation (Bilateral Dialogue) was established in 2000. Its purpose is to facilitate the exchange of information to gain a mutual understanding of energy and mineral resource policies and issues in respective countries; promote trade and investment to enhance bilateral cooperation and to stimulate bilateral commercial relationships for the benefit of Australia as well as China.

The fifth meeting of the Bilateral Dialogue was held in Sydney in December 2009. The meeting was held in conjunction with the 3rd meeting of the China-Australia Joint Coordinating Group on Clean Coal Technology.

The focus of discussions at the Bilateral Dialogue meeting included:

  • Resources and Energy Policies – both parties provided an overview of latest energy and resources policy developments such as Australia’s National Resources Sector Employment Taskforce and China’s “national energy conditions and policies” framework.
  • Commodity Trade & Investment Australia provided an overview of the LNG, uranium and the coal sectors, and noted the recent Exxon Mobil/PetroChina LNG sales contract. Australia also provided an outline of Australia's recent infrastructure developments and discussed Australia’s offshore petroleum acreage opportunities.
  • Clean Energy: Australia provided an overview of its Clean Energy Initiative and explained its Solar Flagship Program. China presented an overview of its renewable energy sources and its renewable energy target of 15 percent of energy needs by 2020

The next meeting is expected to be held in China in 2010 at a time to be agreed.

1Abare, Australian Commodities 2008-09
2Abare, Australian Commodities 2008-09
3DFAT Composition of Trade 2008-09
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