Clare O'Neil (Hotham, Australian Labor Party, Minister for Home Affairs) Share this | Hansard source

I really want to thank the parliament for the genuinely thoughtful contributions, including those that I've heard in the chamber this afternoon from the members for Page, Fremantle, Wannon, Kooyong and Mayo.

I'm not known for quoting the member for Page, but this is a really good day and a really important day for the parliament, and it might be the only time I do. We've heard from a real variety of members of parliament this afternoon, and, notwithstanding some issues raised by the member for Mayo and the member for Kooyong, there is support for the agreements that are coming before the parliament, and it's really important that we make a note of that.

A lot of coverage of Australian politics would suggest that we spend all of our time, as members of parliament, at war with one another, but, actually, the quiet work of this parliament is crucially important. The member for Wannon made some generous comments about the genuine bipartisanship that the two major parties have generally around trade matters. That's really important, and I think we've seen that in the way that a lot of the negotiation and work that was done under the previous parliament has flowed seamlessly into this parliament, and, even under a new government we've been able to take very quick action and get closure on these agreements. I'm very lucky in my role as home affairs minister because all of the hard work of free trade is done by other people, but the bills sit in my portfolio, so I get to do the nice bit at the end, which is bringing closure to the debate and talking a little bit about why these agreements matter so much for our country.

There is no question that Australia's future prosperity depends on our economy staying internationally competitive. One of the most important things that the Australian government can do, for our economy and businesses, is provide brilliant opportunities for them to sell into new markets. The agreements that are before the House are agreements between Australia and the United Kingdom, and Australia and India. Both are enormously important partners of our country as we progress into the future decades. It's really important, too, that the parliament notes that the environment for Australia, from a security and an economic point of view, as we look to the decades ahead, is going to be much more challenging than it has been in previous decades. One of the best things that we can do for our country, one of the best things we can do to make our country stronger, is help our trade diversify into new markets and into new products. The agreements that are before the parliament today are going to assist us to do this.

On the UK agreement, there are two customs bills before the House, which implement Australia's obligations under that agreement. This agreement is a gold-standard trade agreement. We already have a very healthy trading relationship with the UK, and this agreement will enhance that strong economic partnership. It will drive increased trade, two-way investment, economic growth and job creation. It will build on the very strong and, of course, very lengthy people-to-people links through measures designed to increase the mobility of skilled workers and young people in both directions. It will contribute to Australia's export diversification and economic recovery from COVID-19. When it enters into force, over 99 per cent of Australian goods exports will enter the UK duty-free, a huge achievement for our country. That includes sheepmeat, beef, dairy, sugar and wine. Australian consumers will also benefit from increasing access to competitively priced goods and exposure to new technologies and innovative practices. It will boost efficiency, reduce cost and cut red tape. It also sets out the framework for cooperation on a much broader range of environmental issues, which is, of course, very important to the Australian people. That includes support for transition to lower carbon and more climate-resilient economies on both sides of the agreement.

India is, of course, a very, very important partner for Australia as we look ahead to the future. The India-Australia Economic Co-operation and Trade Agreement will be a very important driver of deepening that relationship. It will secure Australia's foothold in the world's fastest-growing major economy and, again, represents significant new trade diversification opportunities. It will enable Australian businesses to unlock or expand their operations into a market of nearly one 1½ billion consumers, with a GDP of $4.3 trillion. Under the IA-ECTA, 90 per cent of Australian goods exports by value to India will enter without tariffs, and high tariffs will be slashed on additional products, such as wine. This is a very commercially significant agreement for us, worth up to $14.8 billion in merchandise trade destined for the Indian market each year. The agreement also provides certainties to support Australian services suppliers and professionals who are doing business in India, currently our third-largest export services market.

I want to just make a quick note, while we're discussing India, that, as the member for Kooyong pointed out, this is an enormously important community for us in Australia, especially in my home town of Melbourne and even in my electorate of Hotham. Our vibrant, thriving, growing Indian community is one of the biggest assets that our country has. What I see in my Indian community locally is a group of incredibly passionate Australians who are pushing us to recognise, see and deliver on the huge economic benefits there are to closer collaboration with India, so I am thrilled to be playing a small part in an agreement which will see some of that come to life.

Finally, I want to acknowledge the work of very many people across this parliament and the Australian government who have helped bring the agreements that are before for us to this point. We had the member for Wannon, who was previously the trade minister here in the parliament, and I acknowledge the amount of work and effort that went into preparing these agreements. I want to acknowledge, of course, Senator Don Farrell, in the other place, who is our current trade minister and has done a power of work in the last six months, bringing a number of agreements to closure—and I know there's a lot more work to be done on that front.

I also want to acknowledge the member for Fremantle. He spoke as chair of the Joint Standing Committee on Treaties. We have a really good way of dealing with free trade agreements in this parliament. Of course, everyone in this chamber would acknowledge that free trade brings winners and losers, and costs and benefits, and the treaties committee is a really important way for us to examine these agreements and make sure that they do deliver for the country. The ones before us, without question, are going to be enormously beneficial, and I'm very proud to present these bills to the House.

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