Federal Member for Hume Angus Taylor says the Asia Pacific is the most exciting region in the world - in terms of trade, finance and cultural opportunities.

In an interview with China Radio International (Canberra bureau) on this week's visit to Canberra by Chinese President Xi Jinping, Mr Taylor said a strengthening relationship between Australia and China would start with trade.

“Trade is right at the heart of our relationship, but it is only the beginning. Our relationship is already strong on trade and it will ripple out into other areas, including education and finance,” Mr Taylor said.

“The announcement today of the conclusion of talks on a long awaited trade deal with China is absolutely huge for the agricultural and resource sectors in Australia, as well as manufacturing and services. We’ve known for years that gaining greater access to these markets in China, the fastest growing markets in the world, in what will be the biggest economy in the world in a short period of time, represents enormous opportunity.

“Exhibit A is New Zealand. For five years I worked very closely with New Zealand dairy producers as they worked toward a free trade agreement with China in the 1990s. I have seen how that trade agreement has totally transformed their economy. New Zealand’s economy is the pin up now in the western world and they have done it on the back of a free trade agreement with China. That’s exactly what the Australian Government is pursuing as well.

“The Kiwis also showed us how a strong industry co-operative structure could piggyback on a free trade agreement. Anyone who wants to understand the transformative power of a free trade agreement on a well prepared industry should go to the South Island of New Zealand. We need to learn from this.

“The memorandum of understanding signed today between China and Australia is symbolic of our mutually beneficial relationship. There are many areas in which we can and will continue to work together.”

Caption: Angus Taylor talks about the mutually beneficial relationship between China and Australia on China Radio International.