Australia and China has signed yet another agreement that would help develop and strengthen the trade relationship between the two regions. This is the second sister port agreement signed by both parties aimed at improving their economic and commercial links. Australia’s Port of Townsville and China’s Port of Qinzhou  agreed to sign a treaty citing that the new agreement is targeted to advance both the trade and investment opportunities of both countries.

Treasurer Curtis Pitt said that it was an important step in their efforts to reinforce their economic and commercial bond with China. The new agreement is also expected to generate more jobs for Queensland and is part of a long-term growth strategy for Australia.

The Port of Qinzhou is considered as one of the largest southern ports in China. For many centuries, it was also “the center of Chinese overland trade with Indo-China.” To date, the Port plays an important role in China-ASEAN cooperation as it serves as the nearest free trade port to ASEAN countries.

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