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THE free trade agreement (FTA) with China provides Australia with a substantial opportunity to grow and diversify our economy over the next decade, according to the Business Council of Australia.
President Catherine Livingstone says the agreement will help create jobs in the future and maximise opportunities in global supply chains as the nation transitions from the mining boom.
"China is also transitioning from an export-intensive economy to a more consumption and services-oriented economy, putting Australia in a strong position to benefit from the opportunities this transition provides.
"It will demand the same value-added services in professional, finance, health, education and aged care that underpins around 80 per cent of our economy."
"It is an opportunity for Australian companies already operating in China to augment their presence and for many others to take advantage of the competitive edge," she says.
"All in all, the significant opportunities for two-way trade unlocked by this agreement will deliver lasting benefits for the whole community."
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