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China and Australia signed "Most Liberal Free Trade" Accord

China's Commerce Minister has titled the trade agreement between China and Australia ''The most Liberal Trade Agreement'', which was signed in Canberra on Wednesday. The agreement is designed to boost trade and investment relationship between the two countries, Ibtimes reports.

The accord will give opportunity to cut tariffs on more than 85 percent of Australian exports to China, also it will give opportunity for Chinese manufacturers to take larger stake of the partner market lifting terrifies on Chinese household goods.

China and Australia are good trading partners. Australia exported $136 billion worth good and services to China last year; it also invested $44 billion in China.

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