Andrew Nikolic (Bass, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. Will the Prime Minister update the House on how this government is encouraging Australian business to make the most of the exciting opportunities in the global economy? In particular, what is the government doing to support a stronger and more competitive small business sector?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I thank the honourable member for his question. Indeed, in Tasmania we are seeing a really strong response to the enormous opportunities presented by the big free-trade agreements negotiated by the member for Goldstein in his time as Minister for Trade and Investment. There is more good news on trade, which I will come to in a moment. But what we know is that if we are to continue our successful transition with strong levels of growth from the mining construction boom to the opportunities of the 21st century, we need to have an economy that is more competitive, more productive and more innovative. So every lever of policy that we can pull is being directed at that goal: a $1.1 billion innovation and science agenda; a defence white paper with a massive investment in innovation, industry and jobs in Australia; and free-trade agreements, as I noted, with the growing economies—particularly the largest economy in East Asia, China.

Just today, the trade minister and Indonesia's Minister of Trade, Tom Lembong, who has been in the House today, have formally agreed to recommence negotiations between Indonesia and Australia on a comprehensive economic partnership agreement. That is great news. We have overcome the shocking damage done to the trading relationship by the live cattle export ban, which was visited on us by the Labor Party—that terrible mistake shattering the relationship and the goodwill that has been built up by all of our ministers, the former trade minister and now our current trade minister. This is a great day. Indonesia is an economy of 250 million people. It has a large and growing middle class, and we have a lot to gain from deeper and broader economic ties. The closer we can develop those ties, the stronger the results will be in terms of investment, jobs and business opportunities here in Australia.

I want to record here in the House my very deep appreciation for the leadership of President Joko Widodo, or Jokowi as he is known in Indonesia, for his extremely constructive and active support of the Australian relationship. President Jokowi is a great leader at every level—a great economic leader, very committed to the Australian relationship—and as he always says on the security front, as a great example, he reminds us again and again that Indonesia is proof positive that Islam is compatible with democracy and a society of tolerance, mutual respect and moderation. This is a great day for Indonesia-Australian relations.