Treasury Wine Estates Enterprise Agreement

Australia is the most china-dependent industrial economy in the world and concluded a free trade agreement with Beijing in 2015. But relations have been strained since 2018, when Canberra ruled out Huawei Technologies Co. from building its 5G network. They fell into free fall earlier this year, when Morrison`s government called for an investigation into the origins of the coronavirus outbreak, a move that hurt China`s pride and sparked a flood of criticism that Australia is a puppet of the United States. In a statement on Monday, the Melbourne-based Treasury said demand in China would be “extremely limited” while taxes are in place. Overall, the company needs to find a new home for a quarter of its annual penfold volume. The diversification project of the world`s largest buyer of Australian wine will take years to bear fruit…


Comments are closed.