Tony Abbott says China trade pact would be a historic win for Australia

http://www.theguardian.com/world/2014/apr/11/abbott-says-china-trade-pact-would-be-a-historic-win

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Tony Abbott has compared his free trade negotiations with China with a World Cup final.

Abbott has emphasised thus far during his China visit that he is in the People’s Republic to deepen the friendship, not simply cut a trade deal, but kicking off the Shanghai leg of the trip on Friday, Abbott told business leaders there was “extraordinary potential” in the bilateral free trade pact with Beijing.

“It's a bit like being in the middle of a World Cup grand final – those are the stakes we're playing for,” Abbott said. “We’ve scored two goals, but it will only be a draw if we don't score the third goal.

“That's what we're shooting for – the third goal that will make this a historic win for our country.”

The soccer analogy references the two other trade pacts the Abbott government has tied up this week, one in Japan and the other in South Korea. On the Abbott analogy, finalising the China deal would turn a “draw” into a “win”.

The prime minister suggested Australia must lift its game to achieve success in the China FTA undertaking, but he said the onus was also on the Chinese to see the benefits in coming to the table with an agenda to open market access for Australian exporters.

“In the end we must remember that this is not all about us and if it ever is all about us we will fail and we will deservedly fail,” Abbott said. “It is at least as much about our Chinese partners.

“It is at least as much about them, and what we have to offer them is a much better future. We can give them the resource security, the energy security and above all else, the food security that they rightly crave,” the prime minister said.

Abbott will deliver a speech in Shanghai at lunchtime Friday before travelling to Beijing for talks with the Chinese president, Xi Jinping, and a dinner at the Great Hall of the People.

He is also likely to say more about an agreement between China and Australia to make Sydney a trading hub for the yuan. The treasurer, Joe Hockey, confirmed on Friday that Australia and China have reached an in-principle agreement to “enhance offshore market development” of China’s currency.