BEIJING - China and Australia signed a memorandum of understanding (MoU) on the implementation and review of China-Australia Free Trade Agreement on Tuesday, according to the Chinese Ministry of Commerce (MOC).

The document was signed by Chinese Commerce Minister Wang Wentao and Australian Secretary of the Department of Foreign Affairs and Trade Jan Adams, witnessed by Chinese Premier Li Qiang and Australian Prime Minister Anthony Albanese.

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Since its entry into force in 2015, the free trade agreement has significantly boosted bilateral economic and trade relations, delivering substantial benefits to both sides, said the MOC.

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As 2025 marks the 10th anniversary of the agreement, the two countries will maintain close cooperation, continue high-quality implementation of the agreement, and jointly conduct a review to identify areas for further improvement or expansion, the MOC said.

This will enhance trade and investment liberalization and facilitation, providing a higher level of institutional support for bilateral economic and trade cooperation, the MOC said.