Marise Payne (NSW, Liberal Party, Minister for Defence) Share this | Hansard source

I certainly can. I thank Senator Abetz for his question. The signing of the comprehensive and progressive agreement for a Trans-Pacific Partnership with the TPP-11 in Chile earlier this month was a significant moment for open markets, for free trade, and for the rules-based international system. The Turnbull government took a leadership role in the negotiations to conclude the TPP-11 soon after the United States indicated its intention to withdraw from the original agreement. We recognised the potential and the opportunities that the agreement would deliver for Australian exports, and particularly the jobs it would help to create.

While the Labor Party, those opposite, said to give up—they said the TPP was dead—we were relentless in our pursuit of new opportunities and greater market access for Australian businesses in our trade zone, which has a combined GDP of A$13.7 trillion. In fact, in 2016-17, nearly one-quarter of Australia's total exports, worth nearly $88 billion, went to TPP-11 countries. That will only continue to grow, thanks to the significant increase in market access the TPP-11 gives to Australian exporters. The TPP-11 will give us new trade agreements with Canada and Mexico, and greater market access to Japan, Chile, Singapore, Malaysia, Vietnam and Brunei. In fact, the Turnbull government has the most ambitious trade agenda in Australia's history. It is delivering jobs and opportunities for Australian workers and Australian businesses.