Australian rock lobster producers are hopeful a visit by Chinese Premier Li Qiang will result in an end to crippling sanctions on their exports. Beijing's second-in-command will visit Australia from June 15-18, the first trip by a Chinese premier in seven years. Prime Minister Anthony Albanese has promised to raise points of contention with Li, including the Chinese military's dangerous actions towards Australian Defence Force personnel in a number of incidents.
South Australian lobster fisherman Kyri Toumazos said as a result of the sanctions, the industry's revenue was between 50 to 60 per cent of its pre-pandemic levels. "The impact has been catastrophic for us," he said. "Businesses have chosen to exit the industry. Exporters have chosen to stop trading. Traditional family businesses have had to make the difficult decision of selling their licences.
Source: Loan Digest (loandigest.net)
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