OREANDA-NEWS. May 12, 2011. Second Sino-Australia Economic and Trade Cooperation Forum was held in Beijing Hotel at critical moment of renewed China-Australia free-trade zone negotiation. CPCCC Political Bureau Standing Committee member and vice premier of the State Council Li Keqiang, Australian premier Julia Gillard attended the forum and made speeches. Gillard, on her first ever visit to China as premier, praised Baosteel for support in supplying UOE for Queensland pipeline project in the speech, reported the press-centre of Baosteel.

The forum, with three main focuses of Tourism, Research, Development and Innovation, Natural Resources and Infrastructure, Banking and Finance attracted near 500 delegates from political, industrial and commercial circles of China and Australia. Baosteel Group Corporation Chairman Xu Lejiang made keynote speech titled Enhancing Sustained Cooperation in Iron & Steel Industrial Chain between China and Australia with Future Consideration.
 
As second largest economic entity, China is the largest trading partner of Australia. In 2010, total trade between both sides exceeded 100 billion AUD for first time, a 46.5% increase; in 2011, first quarter trade reached 24.75 billion USD, sustaining strong growth momentum of a 39.9% increase. Resource trade reached 33 billion USD in 2010, remaining as the biggest cooperation area, and would keep a stable development pace in future.

In his speech, Xu Lejiang raised numerous prospective and constructive thoughts and suggestions on three issues of mutual dependency of Chinese iron and steel industry and Australian mining industry, gradual risk releasing in world iron and steel industrial chain and enhancing sustainable industrial chain building.  

Rio Tinto Iron Ore Business CEO, executive director and president of Rio Tinto China Sam Walsh said in keynote speech, as first overseas mining company to transport iron ore to China, its user was former Shanghai No.1 Steel; in second half of 2011, it would export the one-billionth tons iron ore to China. He hoped concerned parties seek common ground and shelve differences to establish new business relationship and find more cooperative areas of common interests. 

In following banquet, Li Keqiang made warm speech, saying current Sino-Australia economic and trade cooperative relationship was facing critical growth opportunities; enhancing mutual trust and deepening cooperation were inducible for building win-win relationship of mutual benefits; both nations should work with the time for in-depth cooperation with strategic considerations. He believed huge potential, extensive market and transformation of economic development mode in China would surely bring new opportunities for Australia and other nations.
 
Gillard said in speech, stable, reliable and high-quality supply of energy and mining resources by Australia had been basis for economic and trade cooperation between two nations. Its resources could support future development of China, while economic development of China contributed to Australia. She thanked for active engagement and support of Chinese industrial and commercial circles, especially referring to active collaboration of Baosteel in UOE production and service. She hoped increasingly Chinese companies participate in promoting economic and trade cooperation.