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Yunnan to Import Australian Vegetable Oil
Southwest China's Yunnan Province will import 10,000 tons of rape seed oil from Australia every month in accordance with an agreement signed Wednesday by the Kunming Tianze Vegetable Oil Company and the Australian Cootamundra Oilseed Pty Ltd.
Yunnan is the first province in western China to import rape seed oil from Australia.
The signing ceremony was attended by Australian Minister for Trade, Mark Waile, who was heading a trade delegation to China, and Yunnan Governor Li Jiating.
China is one of Australia's largest oilseed markets with business turnover reaching 216 million Australian dollars (US$140 million) in 1999.
Australia is an important trade partner for Yunnan. In 1999 Yunnan's import and export volume with Australia totaled US$66 million.
Yunnan has 18 Australian-funded enterprises with investments standing at US$8 million, said the governor.
The Australian trade minister said that his government encourages businesspeople to invest in Yunnan. Trade ties with the province will be further strengthened after China joins the World Trade Organization.
Officials from three Australian liquefied petroleum gas companies also held talks on cooperation with officials from a petroleum company.
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