Tim Wilson (Goldstein, Liberal Party) Share this | Hansard source

It's my great privilege to be able to get up and speak on this motion, because the TPP-11 is one of the great achievements of this government. When it comes down to it, and anybody who was there would remember it, once there was an abandonment of the TPP by US President Donald Trump there were so many people who said: 'Let it go. It doesn't matter. We're not prepared to stand up for Australian jobs or workers or opportunities, because there simply isn't the international appetite to progress this.' Frankly, that was particularly coming from those opposite.

What we then saw was Shinzo Abe, the Prime Minister of Japan, and Malcolm Turnbull, the then Prime Minister of Australia, come together to say, 'We are going to deliver this deal for Australia, for Japan, for the countries in the Asia-Pacific region.' They were completely countercultural; they were scoffed and mocked by those who simply thought they understood trade policy better because nobody could understand Asia except the Labor Party. They went on and delivered to the world one of the most historic regional trade agreements ever; amongst 11 countries in our region, they've built the foundations of economic governance across the Asia-Pacific.

The TPP-11 is a foundational building block in the economic opportunity and security that will deliver for this country in years to come. And not only did the coalition government deliver; they did it against a backdrop of the scoffing, the snarling and the sneering of our political opponents, who simply wanted to go with the fashion and the tide. And what is the outcome? What we know is that in 2017 nearly one-quarter, or 24 per cent, of Australia's total exports, worth nearly $92 billion, went to TPP-11 countries. This is set to grow, and will continue to grow, as tariffs tumble and as we see reform and opportunities through increased market access for so many goods and, critically, services under this agreement.

Recent modelling undertaken by economists in Brandeis International Business School and John Hopkins University shows Australia is forecast to see $15.6 billion in net annual benefits to national income by 2030—an incredible opportunity and incredible growth for the Australian people. But let's not think about this just in terms of big numbers, though they are. What those numbers translate to are jobs. What those numbers translate to are new opportunities for Australians to get a step up on the economic ladder and create pathways to be able to live full and successful lives. That's why the Minerals Council of Australia released modelling that was conducted for Australian industry associations that found:

Australian workers, jobs and business will benefit significantly from the … (TPP-11) trade agreement, with increased national income, exports, investment and wages …

Critically, what this agreement does is not only provide the foundation for those sectors of the economy where the vast majority of Australians work but also where Australia can actually compete. We can compete because we're competing on the basis of skills and in areas of high technology, high education standards and high proficiency, particularly in the space of services. Coming from the great state of Victoria, where education services are our biggest export, this agreement provides the market opportunities for us to grow that potential through access to Australian universities and vocational institutions to deliver education services, including online educational services, amongst the countries that are covered. This provides the pathway to see Victoria thrive and grow further.

It isn't just in education services. Financial services are another big export opportunity not only because of Australia's integrity and our financial system but, more critically, because of the legal underpinnings that make it such an attractive destination for capital with guaranteed market access for investment advice and portfolio management services, and collective investment schemes as well as insurance for maritime shipping and international commercial aviation and freight. These may not be sexy headlines that make the front page of the paper, but they make a material difference in terms of our capacity as a country to continue to drive the uninterrupted economic growth that we have enjoyed.

For thousands of Australians who go off and study law every year, there'll be new opportunities to work in TPP-11 countries. It'll be the same for engineers and for those in transport and logistic services. The opportunities are endless. They're based on the horizons, and there is no limit to the bounds of what this great nation can achieve.

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