Australian Prime Minister Tony Abbott hopes that Australia’s stalled free trade pact with China could be finalized within the next 12 months, Reuters reported. Australia is prepared to accept a discounted deal in order to secure the long-awaited agreement, said Abbott, stressing the importance of Chinese foreign investment to Australian jobs and economic activity. Bilateral free trade negotiations started in 2005 but have been delayed by Beijing’s concerns over opening markets to Australian food, while Australia wants China to do more to protect intellectual property.