Statement on Economic Diplomacy Policy

“The government’s Economic Diplomacy policy will help Australian businesses gain a better foothold in emerging markets and expand trade with our major partners,” Business Council of Australia Chief Executive Jennifer Westacott said.

“Economic growth in Australia is driven by business, but government has a strong role to play in facilitating this. The policy announced today is a practical example of the benefits of collaboration between business and government, and will help unlock Australia’s comparative advantage on the international stage.

“Maintaining growth in the next decade will be a much harder task than it was in the previous two decades. The BCA welcomes government actions to lift trade and investment and foster business risk-taking to ensure growth sectors can attract capital for major projects and create jobs.

“The BCA looks forward to working with the government on a sector-by-sector approach to reducing barriers to doing business overseas. This will provide industry with incentives to accelerate an export-driven growth strategy.

“The government should now continue its focus on completing an Australia–China Free Trade Agreement that delivers real commercial outcomes ahead of the G20 Summit in November.

“An agreement with broad market access to China’s growing market will allow Australians to bring cheaper agricultural produce and goods to Chinese consumers, and would deliver win–win outcomes with our largest trading partner,” Ms Westacott said.

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2603 | Mobile 0403 241 128