Trade and Investment Minister adopt "Team Australia" approach


Australian ministers responsible for trade and investment today agreed to adopt a ‘Team Australia’ approach in both promoting our nation’s strengths to the world and in pursuing commercial opportunities.

The second Trade and Investment Ministers’ Meeting, held today in Cairns, brought together representatives from all states and territories and the Commonwealth.

Federal Trade and Investment Minister Andrew Robb who hosted the meeting said the outcome was a good example of Australians working together to back our country’s strengths. “As a nation we are best served concentrating on the things we do as well as anybody and better than most,” he said.

“Today’s agreement will enhance the work of the Abbott government and individual states and territories as they seek to realise the once-in-a-lifetime opportunity offered by the rise of Asia’s middle class.”

The ministers agreed to identify high quality investment projects within their jurisdictions and work together to address regulatory barriers to capital. They also agreed to commission their departments to develop joint promotional events and business missions suitable for a coordinated, Team Australia approach.

The meeting followed a previous gathering in Canberra in February where ministers endorsed five new National Investment Priorities: food and agribusiness; resources and energy; economic infrastructure; tourism infrastructure; advanced manufacturing services and technology.

Today, ministers discussed progress with those priorities, including welcoming four Senior Investment Specialists into Austrade, as well as new opportunities arising from the Japan-Australia Economic Partnership Agreement (JAEPA) and Korea-Australia Free Trade Agreement (KAFTA).

“I am particularly pleased we are now getting down to business ensuring Australia makes the most of both JAEPA and KAFTA,” Mr Robb said.

“These agreements and others we are seeking to finalise with trading partners such China will deliver huge benefits to a range of sectors in which Australia excels.”

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