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China, Australia sign free trade agreement — media

China imports from Australia metal, coal, gold and copper while Australia imports mostly telecommunication equipment, clothes, computers and furniture

© AP Photo/Rick Rycroft

BEIJING, June 17. /TASS/. China and Australia signed on Wednesday a free trade agreement thus finalising decade-long negotiations. The ceremony took place in Canberra.

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The China Central Television (CCTV) says under the agreement China exempts from duties and taxes 97% of Australian goods. Canberra, in its turn, lifts duties for 85% of goods imported from China. Besides, Australia will offer to Chinese citizens between 18 and 30 a work quota of 5,000 jobs or training and will allow into the country 1,800 Chinese medical professionals, cooks, teaches of the Chinese language and mortal arts.

CCTV reports in 2014 the trade turnover between the countries was $136.9 billion. By late 2014, China’s aggregated investments in Australia reached $75 billion - thus, in investments China is second after Hong Kong.

China imports from Australia metal, coal, gold and copper. Besides, the Chinese are interested in educational training offered by the Australians. China exports to Australia mostly telecommunication equipment, clothes, computers and furniture.

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