October 16, 2008

Mr Jintao visit to Australia may see mineral agreements

It is reported that Mr Hu Jintao president of China will visit Australia next week and that several agreements related to minerals and commodities may be signed during this visit.

Mr He Yafei assistant foreign minister of China at a briefing in Beijing said that Mr Jintao will visit Perth and Canberra on September 3rd to 4th 2007 and will then attend the Asia Pacific Economic Cooperation summit in Sydney during September 5th to 9th 2007 to meet business executives and officials including Mr John Howard prime minister of Australia. He will be accompanied by a delegation of Chinese investors and executives and will sign several agreements, including the purchase of minerals and commodities.

Trade between China and Australia reached USD 15.9 billion in January to May 2007 up by 35%YoY as compared to January to May 2006. Trade between Australia and China in 2006 totaled USD 32.9 billion.