Mutual political trust and cooperation are the “two wheels” that drive China-Australia relations smoothly, Chinese Ambassador to Australia Cheng Jingye said here on Wednesday.

Ambassador Cheng made the remarks at Canberra Networking Day, the signature annual event of Australia China Business Council.

“The history of the relationship between China and Australia since the establishment of diplomatic relations demonstrates that a sound and stable bilateral relationship serves the fundamental interests of both countries and peoples,” said Ambassador.

“Mutual political trust and mutually beneficial cooperation are just like two wheels that would smoothly drive our bilateral relationship forward,” he said.

“Both of them are indispensable. The relationship between China and Australia can only be steadily and increasingly improved when both wheels are spinning with the same speed and in the same direction, mutually reinforcing each other,” the Ambassador added.

Australia’s Minister for Trade, Tourism and Investment Simon Birmingham also attended the event, saying that China’s appetite for Australia’s agricultural, forest and fish products are particularly strong, and foreign direct investment from China is also very strong.

“Australian businesses are increasingly investing in China,” he added.

His view was echoed by Australia China Business Council’s National President John Brumby, who is also a former premier of the Australian State of Victoria.

“Australian governments will need to understand China as a huge and diverse country, rightly proud of its growth and of lifting hundreds of millions from poverty. Australian businesses will need to develop a deeper understanding of Chinese markets, and especially of the Chinese digital environment,” he said.

Brumby noted that the China´s Belt and Road Initiative, which Victoria has joined, would bring more jobs and more trade for the State.

“We need to embrace opportunities such as China International Import Expo and the Belt and Road Initiative, and find new ways to connect with consumers for the products and services Australia can provide,” he said.