Australia, China deepen ties with landmark free trade deal

Canberra

CHINA and Australia on Monday sealed a landmark free trade agreement more than a decade in the making, significantly expanding ties between the world's second-largest economy and one of Washington's closest allies in Asia.

The deal, which Australia called the best ever between Beijing and a Western country, will open up Chinese markets to Australian farm exporters and the services sector while easing curbs on Chinese investment in resource-rich Australia.

Australian Prime Minister Tony Abbott and Chinese President Xi Jinping signed a memorandum of understanding clinching the agreement during a ceremony in parliament in Canberra. "This has been a 10-year journey, but we have…