China Lifts Last Trade Barrier: Australian Lobster Exports Resume

China will resume importing Australian live lobsters by the end of the year, marking the removal of the last major trade barrier. This agreement was reached following discussions between Australian Prime Minister Anthony Albanese and Chinese Premier Li Qiang. Improved bilateral relations promise economic benefits and regional stability.

China is set to restart the importation of Australian live lobsters by the end of the year, marking the conclusion of significant trade barriers between the two nations. This development was confirmed Thursday by Australia's Prime Minister Anthony Albanese.

Albanese made the announcement after a pivotal meeting with Premier Li Qiang during a Southeast Asian summit in Laos. The decision is part of a broader trend of improving relations since the Labor Party gained power last year.

Previous diplomatic tensions had led China to halt trade on key commodities, impacting Australia's economy. With this agreement, the two countries aim to foster economic benefits and enhance peace in the region.

(With inputs from agencies.)