China Lifts Ban on Australian Lobster Imports After Four Years

The agreement reached at the ASEAN summit marks the end of a significant trade dispute, with exports expected to resume by early 2025.

Australian Prime Minister Anthony Albanese announced the lifting of the lobster import ban during a meeting with Chinese Premier Li Qiang.
The ban, imposed in 2020, had severely impacted the Australian lobster industry, which relied on China for 90% of its exports.
Resumption of exports is anticipated to coincide with Chinese New Year celebrations, providing a boost to Australian fishers.
Local Australian lobster prices may rise as a significant portion of the catch is redirected to the Chinese market.
While the trade breakthrough is positive, broader geopolitical tensions between China and Western nations, including the US, continue to influence international trade dynamics.