Australian Prime Minister Anthony Albanese says China will resume importing Australian live lobsters by the end of the year.

Australian Prime Minister Anthony Albanese said China has agreed to lift restrictions on lobster imports by the end of the year, removing one of the last trade barriers imposed by Beijing during a period of tension between the nations.

Beijing has banned or slapped retaliatory tariffs on almost $15 billion worth of Australian exports, from wine to timber, during years of soured ties with Canberra.