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Australia-China FTA a 'game changer'

Australia's smaller economy expected to gain more; dollar seen getting knee-jerk lift on announcement

Brisbane

AUSTRALIA will reach a free trade deal with China on Monday, cementing ties with its biggest economic partner and reducing its reliance on resource exports.

"The free trade agreement to be announced tomorrow with China will be a game changer," Josh Frydenberg, parliamentary secretary to the prime minister, said in an interview in Brisbane on Sunday. "Opening up the Chinese economy in various sectors, including services and agriculture, to Australian exports, is going to be really beneficial."

Australia is the most China-dependent developed economy in the world, with exports to the nation accounting for 5.3 per cent of gross domestic product, according to Commonwealth Bank of Australia....

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