In response to questions about China, Albanese said the
relationship was "more stable", and his government had sought a
return to diplomacy while recognising differences in values and
political systems.
"We want a more stable, secure region," he said.
(Reporting by Kirsty Needham; Editing by Stephen Coates)
(Updates with details of business leaders, ADDS quote)
By Kirsty Needham
SYDNEY, March 7 (Reuters) - Australian Prime Minister
Anthony Albanese said on Tuesday his government wants to
diversify trade and foreign investment partners, as he prepares
to lead a business delegation to India which he said shares
Australia's democratic values.
Australia wanted "greater diversity in who we trade with -
and greater variety in what we trade, meaning our economy is
more resilient and more secure," he said in a speech to the AFR
Business Summit in Sydney.
China is easily Australia's largest trading partner,
although a diplomatic dispute has resulted in what Australia
calls "trade blockages" being imposed by China on a raft of
Australia's exports. Canberra has asked Beijing to remove those
blockages as the two nations resume talks after a years-long
diplomatic freeze.
Business leaders across transport, resources, finance,
higher education, architecture and energy will on Wednesday
accompany Albanese to India, which is Australia's sixth largest
trading partner.
The delegation includes Macquarie Group Chief
Executive Shemara Wikramanayake, Commonwealth Bank of Australia Chief Executive Matt Comyn, Fortescue Metals Group founder Andrew Forrest, Universities Australia Chief
Executive Catriona Jackson, and executives from BHP ,
Rio Tinto and Graincorp.
India and Australia are security partners through the Quad
group, which also includes the United States and Japan and
frequently highlights democracy as a basis for cooperation.
"Our two nations share a rich history - bound by our
democratic values and enlivened by genuine friendship and fierce
sporting rivalry," Albanese said.
Australia would supply critical minerals to India, while
also making electric vehicle components such as batteries and
other green energy products in Australia, he said.
"We can do all these things as well as remaining a trusted
and reliable supplier of energy to key trading partners such as
Japan and the Republic of Korea," he added.
Albanese said Australia would be "deepening and diversifying
our international investment and trade links".
Australia is the largest supplier of iron ore to China, but
is seeking to diversify its customers for critical minerals and
last month blocked a Chinese investment in a rare earths miner
on national interest grounds.
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