Live east coast rock lobster fishing in Australia. Crayfish on a boat caught in lobster pots.
Adobe Stock
Australia's Prime Minister Anthony Albanese and China's Premier Li Qiang have signed the agreement for the full resumption of Australian live rock lobster exports by the end of the year during the ASEAN Summit in Vientiane, Laos.
The government of Australia has confirmed through a statement released on Thursday that this measure will save 3,000 Australians jobs in the industry, of which 2,000 are in Western Australia.
On the other hand, Chinese consumers will have access to high-quality Australian lobsters in time for the Lunar New Year, and the bilateral relationship between China and Australia will stabilize.
Regarding the Australian Government's agenda, Albanese stated that trade impediment resolutions are a priority. Also, he confirmed that "it is in the interests of both our countries to continue this path of stabilizing the relationship".
Finally, the Minister for Agriculture, Fisheries, and Forestry, Julie Collins, assured that the full resumption will ensure job stability for fishing communities in regional areas and represent a trade potential of over $700 million.
Moreover, Seafood Industry Australia (SIA), the national peak body representing the Australian seafood industry, has welcomed the agreement and thanked ministers and officials for their collaboration.
Additionally, SIA highlighted the efforts made by import partners, Australian fishers, and exporters over the last few years in the absence of open trade.
"Today’s decision is a major win for some of the Australian seafood industry, for the hardworking fishers, the coastal communities that they support, and for Chinese consumers and we are proud that our high-quality, safe, and sustainable lobsters will soon be back on Chinese tables" a statement reads.
In 2022, the Australian seafood industry set a target within its first "whole of industry" export plan to increase the value of Australian seafood exports to 2 billion AUD by 2030.
This latest diplomatic move with China will help to achieve the goal and create new jobs in regional, remote, and coastal Australia.
Furthermore, the Government is still working on Tropical Rock Lobster restrictions. "We note that TRL fisheries in the Torres Strait and Queensland have some of the highest sustainability credentials in the world," SIA indicated.
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) unveiled in March its latest forecast for the country's seafood sector, projecting a modest increase in the gross value of Australian fisheries and aquaculture production in 2024.