Australia and its largest trade mission to China

Trade minister of Australia led the "biggest trade mission" of the country to China next week in hopes of discovering new business opportunities, he said on Thursday.

Having recently signed a free trade agreement between China and Australia (FTA), Prime Minister Steven Ciobo with a delegation of around 1,000 people will go on a week-long event called Australian Week in China (AWIC), to take advantage of the recent Free Trade Agreement.

"Everyone knows that resources are a key part of Australia, but after the fall in commodity prices, capital expenditures decreased in recent years. What government focus now on is how they can continue the transition of the economy," he said Ciobo for CNBC on "Asia Squawk Box".
"75 percent of our economy is in the service sector, but we want to make sure that will expand on the export of services, so that's part of the reason why we will have 1,000 delegates in China."

Global boom in commodities fueled by China over the past decade, has helped the rich resource economy of Australia, but after the boom subsided in the past year, from Canberra are forced to focus more on non-mining investments. Still, that has not diminished dependence on Beijing.

Ciobo his senses agro-business as a potential sector that could soon increase exports.
"We produce three times more food than we consume in Australia. We can be a good exporter of agricultural products, so we have great interest and desire for it."

 Varchev Traders