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Free trade pact to cut costs of coal and iron

By Du Juan | China Daily | Updated: 2015-06-18 08:28

Agreement to ensure supply of raw materials, duties to be phased out

The landmark signing of a free trade agreement between China and Australia on Wednesday will further ensure the supply of commodities to the world's second-largest economy, helping Chinese users cut costs for materials such as coal and iron ore, industry experts said.

After more than a decade of negotiations, the two sides signed the China-Australia Free Trade Agreement, giving Chinese steel companies and power stations more choices when they need to import iron ore and thermal coal.

Free trade pact to cut costs of coal and iron

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