• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, May 13, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Australia to oppose China’s bid to join trade pact

September 18, 2021
Stephen M.Cby Stephen M.C
in World, Asia
0
trade

China-Australia flags

Australia, through its Trade Minister, Dan Tehan has stressed that it will oppose China’s bid to join a key trade pact until it ends trade strikes against Australian exports and resumes high level meetings with its government.

China, earlier this week, formally applied to join the world’s biggest trading agreement– the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). But its admittance is hinged on the unanimous support of all the pact’s members.

The CPTPP was signed by 11 countries including Australia, Canada, Chile, Japan and New Zealand in 2018. The original Trans-Pacific Partnership (TPP) was promoted by then-President Barack Obama as an economic bloc to challenge China’s increasingly powerful position in the Asia Pacific.

RelatedPosts

Trump Hints Sanctions Removal On Syria

Climate Crisis Fuels Misery In Africa

Hamas Frees US-Israeli Captive

According to Tehan, China cannot join the pact until it convinces members of its “track ­record of compliance” with existing trade agreements and Word Trade Organization commitments. And this is a standard process that would require Beijing to resume high-level dialogue with Australia, Tehan opined.

“CPTPP parties would also want to be confident that an ­accession candidate would fully implement its commitments under the agreement in good faith. “As we have conveyed to China, these are important matters which require ministerial engagement.”

Dan Tehan, Australia’s Trade Minister

Other members of the CPTPP, like Japan in reacting to China’s application said it would have to determine if China meets the ‘extremely high standards’ of the CPTPP.

Prior to this new development, Australia has lodged disputes against China in the World Trade Organization (WTO) on ­restrictions on exports of barley and wine imposed by Beijing.

Canberra’s Security Pact stokes Beijing’s Anger

This notwithstanding, there appears to be ‘some tension’ between Australia and China. Beijing is angered by Australia’s decision to acquire US nuclear-powered submarines in a new security pact “AUKUS”.

Following this, Chinese President Xi Jinping indicated that such a deal is a ground for ‘interference from external forces’ in the region.

However, for Canberra, this deal is in line with its promises to defend the rule of law in airspace and waters where China has staked hotly contested claims.

The deal has resulted in Australia cancelling its US$90 billion contract with France for diesel submarines. More so, the deal is intended to see the US and the UK share sensitive technology with Australia to let it develop its first nuclear-powered submarines.

In an address, Xi urged heads of state to “absolutely resist external forces to interfere [in] countries in our region at any excuse, and hold the future of our countries’ development and progress firmly in our own hands.”

Responding to Beijing’s reaction, Peter Dutton, Australia’s Defence Minister dismissed the reaction highlighting that, “this is not the first time that we’ve seen different outbursts from China in terms of Australia’s position.

“We are a proud democracy in our region. We stand with our neighbours in the Indo-Pacific to ensure enduring peace and this collaboration makes it a safer region. That’s the reality and no amount of propaganda can dismiss the facts.”

Peter Dutton, Australia’s Defence Minister

Meanwhile, France, which lost out on this security pact has recalled its Ambassadors to US and Australia for consultations sparked by the “exceptional seriousness” of Australia’s decision to abrogate the deal.

READ ALSO: STC has lost nearly GH¢40 million because of COVID- Nana Akomea

Tags: Asia PacificChinasecurityTrade pactWTO
Please login to join discussion
Previous Post

Diversification and Digitalization to improve revenues by 6% of GDP each year- IMANI

Next Post

SMEs to Benefit from Vodafone Business

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Trump Hints Sanctions Removal On Syria
USA

Trump Hints Sanctions Removal On Syria

May 12, 2025
COCOBOD Strengthens Anti-Smuggling Measures to Protect Ghana’s Cocoa Industry
Agribusiness

COCOBOD Strengthens Anti-Smuggling Measures to Protect Ghana’s Cocoa Industry

May 12, 2025
transport fare to be reduced amid cedi gain
General News

Transport Fare Cuts Urged Amid Cedi Gains

May 12, 2025
Africa's Energy Natural Gas
Extractives/Energy

Ghana’s Second Gas Plant Set to Transform Energy Infrastructure

May 12, 2025
Koo Fori Released from Jail
Entertainment

Koo Fori Released from Jail

May 12, 2025
Climate Crisis Fuels Misery In Africa
Africa

Climate Crisis Fuels Misery In Africa

May 12, 2025
Trump Hints Sanctions Removal On Syria
USA

Trump Hints Sanctions Removal On Syria

by Comfort AmpomaaMay 12, 2025
COCOBOD Strengthens Anti-Smuggling Measures to Protect Ghana’s Cocoa Industry
Agribusiness

COCOBOD Strengthens Anti-Smuggling Measures to Protect Ghana’s Cocoa Industry

by Stephen M.CMay 12, 2025
transport fare to be reduced amid cedi gain
General News

Transport Fare Cuts Urged Amid Cedi Gains

by Lilian AhedorMay 12, 2025
Africa's Energy Natural Gas
Extractives/Energy

Ghana’s Second Gas Plant Set to Transform Energy Infrastructure

by Prince AgyapongMay 12, 2025
Koo Fori Released from Jail
Entertainment

Koo Fori Released from Jail

by Esther Korantemaa OffeiMay 12, 2025
Climate Crisis Fuels Misery In Africa
Africa

Climate Crisis Fuels Misery In Africa

by Lawrence AnkutseMay 12, 2025
Trump Hints Sanctions Removal On Syria
COCOBOD Strengthens Anti-Smuggling Measures to Protect Ghana’s Cocoa Industry
transport fare to be reduced amid cedi gain
Africa's Energy Natural Gas
Koo Fori Released from Jail
Climate Crisis Fuels Misery In Africa
[/vc_row_inner]

Recent News

  • Trump Hints Sanctions Removal On Syria
  • COCOBOD Strengthens Anti-Smuggling Measures to Protect Ghana’s Cocoa Industry
  • Transport Fare Cuts Urged Amid Cedi Gains
  • Ghana’s Second Gas Plant Set to Transform Energy Infrastructure
  • Koo Fori Released from Jail
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.