It has been seven years since Australia and China first conducted their bilateral talks towards a possible free trade agreement (FTA). This year, Australia wants that FTA officially and formally signed.

"It's (been) too long, and both sides have recognized that," Kevin Rudd, a member of Australia's parliament, told China Daily on Thursday at the sidelines of the 2012 APEC China CEO Forum.

"(What) I would like to do is see the deal signed this year, the 40th anniversary of the China-Australia diplomatic relationship," the former Australian prime minister said. "It would be a good way to have a birthday party."

One of the factors delaying the FTA is China's misconception of Australian agriculture products flooding the market and potentially damaging China's interests.

"China thinks we are a big agriculture country and the opening of the market would harm Chinese interests, but frankly, I don't believe the argument is accurate," Mr Rudd said.

Not totally disregarding the possible outcome, the influx of Australian agriculture exports into China would nonetheless have a "very, very limited" effect since by Chinese domestic standards, "our agriculture exports are quite small."

"China is the second-largest economy in the world, and the largest in Asia. Australia is the fourth-largest in Asia. We should be able to overcome the relatively minor differences," the Chinese newspaper quoted Mr Rudd as saying.

A bilateral FTA with China according to estimates said Australia could gain additional incomes of A$146 billion ($145.5 billion) in the next twenty years.

"I believe we can take a $100-billion plus relationship and turn it into something bigger again. It's good for China, and good for us, and more jobs for either side," Mr Rudd said.

To contact the editor, e-mail: