Today I will travel to the United States to advance Australia’s trade and investment agenda, leading Australia’s delegations at the Asia-Pacific Economic Cooperation (APEC) and Indo-Pacific Economic Framework (IPEF) meetings.
The Albanese Government has been working to restore our reputation and credibility in the region since coming to Government a year ago.
Regional economic partnerships, such as APEC and IPEF demonstrate our willingness to collaborate on challenges confronting the global economy, such as supply chain resilience, the clean energy transition, building a secure and prosperous Indo-Pacific, and ensuring that the international rules-based system is respected.
At the APEC Ministers Responsible for Trade Meeting, I will advance Australia’s leading work to facilitate services trade, boost digital trade and promote inclusive and sustainable growth, including the economic empowerment of women and First Nations peoples.
APEC is our region’s premier economic forum, bringing together 21 member economies accounting for 75 per cent of Australia’s total trade in goods and services.
At the IPEF Ministerial, I will work with my counterparts to advance IPEF’s goal of establishing high-standard commitments that deepen partners economic engagement.
IPEF brings together some of the largest and most dynamic regional economies, accounting for around 40 per cent of global GDP and includes eight of Australia’s top ten merchandise trading partners.
While in Detroit, I will also participate in the Australia-US Strategic Commercial Dialogue with US Secretary of Commerce, the Hon Gina M. Raimondo, to progress our common economic interests.
My visit comes in the wake of the historic agreement announced by Prime Minister Albanese and President Biden last weekend, to enhance our cooperation under a new Climate, Critical Minerals, and Clean Energy Transformation Compact.
The Albanese Government is committed to diversifying our trading relationships and delivering broader and stronger trade agreements for the benefit of Australian businesses and workers.
