Simon Birmingham (SA, Liberal Party, Minister for Trade) Share this | Hansard source

The government—and I, as a relatively new trade minister—will always consider the best possible approach that we can take in each and every trade negotiation.

It is for others, such as the EU, to make and determine their own positions. However, I do emphasise the point made before—that provisions that provide a degree of investment certainty to Australian businesses operating in other jurisdictions are, we think, important. They provide that opportunity for Australian businesses to look abroad, to invest abroad and to create opportunities that then may see profits and opportunities repatriated back to Australia to some extent. Encouraging that activity by Australian businesses is good for us. It's also good for the nation in which they're investing; they are creating jobs and opportunities and paying taxes in that nation. We ought to be realistic enough to recognise that Australia is a stand-out nation in global terms, when you look at matters such as the rule of law, judicial process and, frankly, governments of both political persuasions acting in generally responsible ways that don't go and see retrospective actions that could be detrimental to investment decisions that have been taken. Not every other nation has such a strong track record. That's why we think, on balance, such provisions are useful and important for Australian companies and their operations overseas.