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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: Australia tells China it wants action on Rio Reuters - Friday, July 24 By Ben Blanchard and David Stanway ADVERTISEMENT PHUKET, Thailand/BEIJING - Australia's foreign minister told his Chinese counterpart on Thursday he wanted the case of detained Rio Tinto employees in China dealt with quickly, while another Australian official tried to reassure Chinese investors they were still welcome. Foreign Minister Stephen Smith, speaking to reporters at a regional security gathering on the Thai island of Phuket, said he also agreed with Foreign Minister Yang Jiechi the case would not affect bilateral ties. It was the highest-level meeting between Australia and China since Chinese authorities this month detained four employees of Rio, including its top iron ore salesman in China, Australian Stern Hu, alleging they were involved in stealing state secrets. "I pressed the point that we believe this matter should be dealt with expeditiously," Smith said. "He made the point that so far as China is concerned, this is an individual matter, they're conducting an investigation. It goes to matters of corruption and bribery, it also goes to state secrets, as defined under Chinese law." Rio denies its employees had bribed Chinese steel mills. But while Smith pressed the case with Yang, the premier of resource-rich Western Australia met with some of China's largest state-owned enterprises in Beijing to assure them Australia still wants their money. PARTNERS China is Australia's biggest trade partner, with trade worth $53 billion last year. Iron ore exports accounted for $14 billion of that figure, led by Rio Tinto and BHP Billiton. Much of that trade and investment is with the mineral-rich state of Western Australia, whose premier, Colin Barnett, told reporters on Thursday that Chinese companies have been frustrated by Australia's tough foreign investment rules, and their efforts need to receive "special policy attention." Barnett, who leads an opposition-ruled state, said he understood Chinese metals conglomerate Chinalco's frustrations after its $19.5 billion bid to increase its investment in Rio Tinto was rejected in June. "I think Chinalco behaved impeccably throughout that and I can understand their disappointment," Barnett said. "We should not have been having a debate over whether 18 percent was too much or too little." Australia needed to recognise China as a "special case" and devise policies aimed at encouraging more Chinese companies to invest in its resources, Barnett said. Chinalco in turn said it is still looking for investment opportunities in Australia, despite being rebuffed by Rio Tinto. Chairman Xiong Weiping, speaking at an investment forum in Beijing on Thursday, said Australia was "still one of Chinalco's ideal investment locations." "We are looking for opportunities to invest in nonferrous metals projects in Western Australia," he said. Chinalco is still confident it would receive the backing of the Australian government, Xiong said. NO WIDER IMPACT The detentions have raised concerns about doing business in China and overshadowed critical 2009 iron ore price negotiations. Rio's share price, however, has been little affected. The case has strained ties between the two countries, with Australian officials frustrated by China's slow pace in dealing with the issue and its reluctance to provide full details of any charges. Last week China's Foreign Ministry told Australia to stop "whipping up" the case. Chinese officials in Phuket previously said Yang would not meet Smith at the Phuket meetings, which ended on Thursday. Yang returned to China without speaking to reporters. Smith said he and Yang did not envisage any wider impact. "Both of us have been at pains to make the point we don't see this going to the wider relationship, which we regard as very good," he said. Chinalco's failed bid for an 18 percent stake in Rio Tinto had soured ties between the countries even as the acrimonious iron ore price negotiations were reaching a climax. Barnett said he has reassured officials with some of China's biggest state-owned firms -- including Anshan Iron and Steel Group, or Angang, and China National Offshore Oil Corporation -- that Western Australia would make "a special commitment to helping Chinese projects get through." China bought 68 percent of Australia's total commodity exports in 2008, and its unique role in the country's economy should be acknowledged, Barnett said. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Asia Pacific Clinton trades jibes with 'no friends' North KoreaAFP - Friday, July 24 Obama China pick vows clear-eyed approachAFP - Friday, July 24 Clinton: NKorea running out of options on nukesAP - Friday, July 24 Japan opposition softens stance ahead of electionAFP - Friday, July 24 Judge accepts Mumbai gunman's confessionAP - Friday, July 24 Most Popular – Asia Pacific Viewed Police raid Jackson doctor for manslaughter link Lost love letter reunites couple after 16 years 'I'm not a saint': Italy's Berlusconi Massive quake moves NZealand closer to Australia Schwarzenegger defends knife-wielding Twitter video View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. 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