Cooperation is becoming increasingly relevant to the times, and free trade and investment continue to be upgraded... Looking back at Premier Li Keqiang’s visits to Australia and New Zealand, the numerous achievements attained not only underscore the emergence of a genuine community of shared interests between China and Australia, and between China and New Zealand, but also set a new benchmark through concrete actions for cooperation between developing and developed countries within the Belt and Road Initiative.

　　Following his visit to Australia, which concluded on March 26, Premier Li Keqiang wrapped up his trip to New Zealand on March 29, bringing his eight-day tour of Oceania to a successful close. What new signals of bilateral cooperation did the Premier convey during this trip? And what positive impacts will this visit have on China’s economic and trade cooperation with Oceania?

　　Experts believe that both Australia and New Zealand are developed countries, and there is strong economic complementarity between China and Australia as well as between China and New Zealand. They enjoy a solid foundation of cooperation in sectors such as mining and agriculture. This visit has yielded substantial results, demonstrating that bilateral cooperation is more responsive to the times, with free trade and investment continuously being upgraded. The Belt and Road Initiative is being advanced pragmatically, and a community of shared interests that delivers tangible benefits is taking shape. The cooperation between China and Australia, as well as between China and New Zealand, sets a new benchmark for cooperation between developing and developed countries within the framework of the Belt and Road Initiative.

　　Jointly expand the pie of shared benefits.

　　This year marks the 45th anniversary of the establishment of diplomatic relations between China and Australia, as well as between China and New Zealand. From March 22 to 29, Li Keqiang was invited to pay official visits to Australia and New Zealand respectively. Both Australia and New Zealand are developed countries in Oceania and are also key participants in the Belt and Road Initiative.

　　Bai Ming, deputy director of the Institute of International Markets at the Research Institute of the Ministry of Commerce, said in an interview with a reporter from the International Business Daily that Australia and New Zealand, located in the South Pacific, are two key participants in the construction of the 21st Century Maritime Silk Road. As developed countries, Australia and New Zealand can set an exemplary model for cooperation between China and developed nations in the Belt and Road Initiative, jointly expanding the pie of shared benefits.

　　Judging from the list of outcomes already released, Li Keqiang’s recent visit to Oceania has yielded a series of fruitful cooperation achievements spanning multiple fields, including economy and trade, tourism, and international development. Specifically, he reached 21 outcomes with Australia and 20 outcomes with New Zealand.

　　Journalists found that promoting trade and investment liberalization and facilitation is a common feature—and a prominent highlight—of China-Australia and China-Singapore cooperation. Particularly noteworthy is the memorandum of understanding signed between China and New Zealand, under which the governments of the People’s Republic of China and New Zealand agreed to launch negotiations for upgrading their free trade agreement and scheduled the first round of talks to take place in Beijing from April 25 to 27 this year. As for China and Australia, they will strive to usher in a new era of “free-trade prosperity” in bilateral cooperation, further deepening the alignment and collaboration between China’s Belt and Road Initiative and Australia’s Northern Development Initiative, as well as the two countries’ innovation strategies.

　　Bai Ming stated that Australia and New Zealand are developed countries, while China is a “fast train” of economic growth. The abundant mineral and agricultural resources of Australia and New Zealand are in great demand by the Chinese market. Moreover, China’s shift in its economic growth model and structural reforms on the agricultural supply side complement the development paths of Australia and New Zealand. In addition, China-Australia and China-Singapore cooperation play a crucial role in stabilizing international commodity prices, such as iron ore. Free trade and investment not only benefit China, Australia, and New Zealand but also bring benefits to the entire world. At the same time, the construction of the China-Australia Free Trade Area and the China-Singapore Free Trade Area will accelerate the implementation of the Belt and Road Initiative and hold significant importance for building a community with a shared future for mankind.

　　Keep pace with the times and deepen cooperation.

　　During this visit, witnessed by the Chinese and Australian prime ministers, China’s Minister of Commerce Zhong Shan and his Australian counterparts signed the “Memorandum of Understanding between China’s Ministry of Commerce and Australia’s Department of Foreign Affairs and Trade on Strengthening Development Cooperation.” Also, witnessed by the Chinese and New Zealand prime ministers, Zhong Shan and his New Zealand counterparts signed the “Arrangement between the Ministry of Commerce of the People’s Republic of China and the New Zealand Department of Foreign Affairs and Trade on Enhancing International Development Cooperation and Exchange” and the “Arrangement between the Ministry of Commerce of the People’s Republic of China and the New Zealand Department of Foreign Affairs and Trade on E-commerce Cooperation.” “These achievements demonstrate that China-Australia and China-New Zealand relations are not only continuing to uphold cooperation but also keeping pace with the times,” said Bai Ming. He added that China-Australia and China-New Zealand have not only established a solid foundation for cooperation in sectors such as mining and agriculture, but are also actively promoting related collaboration by leveraging new development trends like the booming cross-border e-commerce. Moreover, both sides are continuously upgrading their free trade zones. As a result, products from Oceania—such as fruits, beef, and red wine—will enter the Chinese market at lower prices and with greater convenience. Businesses and individuals from both sides will enjoy even greater benefits from this enhanced cooperation.

　　In addition, the official entry into force and upcoming review of the China-Australia Free Trade Agreement, as well as the launch of negotiations for an upgraded version of the China-Singapore Free Trade Area, will all play a significant role in boosting the RCEP negotiations and the development of the Asia-Pacific Free Trade Area.

　　Analysts believe that the Belt and Road Initiative will bring more opportunities for China-Australia and China-Singapore economic and trade cooperation, such as in infrastructure development, tourism, and overseas education. The Belt and Road Initiative, by synergizing with both traditional areas of cooperation and the exploration of new ones, will jointly deepen and solidify our collaborative efforts, thereby expanding the overall size of our cooperative endeavors.

　　Speaking about the fact that Australia did not sign a memorandum of understanding with China to strengthen cooperation under the Belt and Road Initiative during this visit, just as New Zealand did, Bai Ming stated that substantive cooperation between China and Australia has been ongoing all along. Moreover, judging from the outcomes released this time, cooperation between China and Australia is intensifying, and a community of shared interests that delivers tangible benefits is taking shape.