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High-level business summit in Australia eyes new opportunities in China

( Xinhua )

Updated: 2018-03-08

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Cooperation is key

For global businesses to operate smoothly however, global relationships must be maintained.

While whispers of protectionist rhetoric have grown louder in the US and some parts of Europe, China and Australia have reaffirmed their position as outward looking trading nations seeking to do business with the rest of the world.

"Free trade is self-evidently the lifeblood of the global economy, and we expect it to flourish," BHP CEO Mackenzie said in his address at the summit.

But looking beyond free trade and economic development, there is also something to be said about investing in people-to-people links.

The Torch Innovation Precinct at the University of New South Wales for example has been a huge boost for Sino-Australia business ties, with the Chinese and Australian government-backed tech facility developed to strengthen cooperation between the two countries and spark growth in the startup sector.

Other similar partnerships include the Australia-China Natural Gas Technology Fund and the Center for Southern Hemisphere Oceans Research in Tasmania -- a collaboration between Australia's national science body, the CSIRO, and China's Qingdao National Laboratory for Marine Science and Technology.

So for Australia enterprise, it would appear there are numerous opportunities to collaborate with its regional partner in the Asia Pacific.

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