05 Sep

G20: Malcolm Turnbull to raise post-Brexit free trade agreement with UK's Prime Minister Theresa May

This article was first featured at ABC News.

Prime Minister Malcolm Turnbull will seek to lay the groundwork for a post-Brexit free trade deal when he meets Britain's Prime Minister Theresa May at the G20 today.

Key points:

  • World leaders under pressure to work out a joint approach to revive global growth
  • Malcolm Turnbull says he is keen for Australia to clinch Britain's first post-EU trade deal
  • He will take part in talks on targeting international tax avoidance

World leaders meeting in China are under pressure to work out a joint approach to revive global growth on the final day of the G20 summit.

Leaders of more than 20 nations at the summit are yet to forge a clear plan to recharge the global economy.

Ahead of his first meeting with Ms May, Mr Turnbull said he was keen for Australia to clinch Britain's first post-EU trade deal, and would raise the prospect when he met Ms May.

While G20 leaders meeting in Hangzhou have expressed concerns about the economic fallout of the UK's decision to leave the EU, Mr Turnbull said he saw it as an opportunity.

He said Australia could be well placed to clinch the first free trade deal once the UK formally leaves.

He will also meet French President Francois Hollande at the G20, and take part in talks on targeting international tax avoidance — a key focus for the summit.

Leaders are striving to come up with a joint statement on fresh ways to revive the global economy before the summit ends.

But a common theme is a push back against rising calls for protectionist policies.

Talks with Xi against background of investment concerns

Mr Turnbull met Chinese President Xi Jinping on the sidelines of the meeting over the weekend, against the background of increasing concerns in Australia over Chinese investment.

China's state media said President Xi urged Australia to create a "fair, transparent and predictable environment" for foreign investment, in the wake of recent decisions by Australia to block Chinese bidders from major electricity and agricultural sales.

"We mostly say yes, we invariably say yes, but from time to time we say no, and we make no bones about that, and China respects it," Mr Turnbull said.

He also emphasised that it was easier for Chinese companies to invest in Australia than for Australian companies to invest in China.

Posted in General by Claire Emery
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