Monday, May 23, 2016

China flags growing demand for Australian dairy products

China has flagged an even greater appetite for Australian dairy products as consumer demand surges for high quality agricultural imports from downunder.

Bank of China executive vice president Gao Yingxin told a conference in Sydney this morning that Australian remains well positioned to feed China given its history of "riding on the sheep's back".

"Australia is endowed with a mild climate, vast farmlands and fertile pastures providing unlimited potential for agricultural development," Mr Yingxin said.

Mr Yingxin said China's appetite for Australian dairy products was a major focus in catering for the appetitie of its rising middle class.

"Between 2005 and 2013, the children's milk market in China great at average of 20 percent. Recently the adoption of a two child policy will create even more business opportunities ," he said.

More than six hundred delegates have travelled from China for a major investment conference hosted by the Bank of China and the Australian Chamber of Commerce & Industry.

Around 240 business - 120 from China - and another 500 attended have gathered by Sydney Harbour for the China-Australia Agribusiness Trade & Investment Conference.

The carefully choreographed event is designed to bring small to medium business from Australia and China together to develop trade opportunities.

Trade between Australia and China is estimated to be worth $150 billion a year.

The Federal Minister for Trade and Investment Steve Ciobo says Australia has to adjust to the changing commodity price landscape to exploit even greater trade opportunities with China.

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