Two-way trade between the pair is around $93.44b.
Reuters reports that the Australian government expects to close free trade agreements with Hong Kong and Indonesia before end-2018.
“I think by the end of this year we’ll conclude successfully an FTA with Indonesia, an FTA with Hong Kong,” Australian trade minister Steven Ciobo said at a business lunch in Sydney.
A deal with Hong Kong, Australia’s 12th largest trading partner, has been under negotiation since last year as two-way trade between the pair is estimated at around $93.44b (A$16.3).
The Australian trade minister suggests that the growing protectionist sentiment has made it easier for some countries to ink trade pacts as a form of economic guarantee as he closes 12 Australian trade deals this year alone.
Here’s more from Reuters:
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