Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Polley for her deep and abiding interest in this issue, which is of particular interest to her home state of Tasmania. After a decade of the Liberal government, Australia is more dependent than ever on a single market for our exports. Placing all your trade eggs in one basket has proven to be bad economic strategy. The COVID-19 global pandemic, supply chain volatility—which has been exacerbated by Russia's illegal invasion of Ukraine—and Chinese trade blockages have exposed the growing risk for Australian exporters, jobs and prosperity. To address these challenges, the Albanese Labor government is implementing a trade diversification plan that will provide opportunities for Australian businesses to gain new market access into major markets and facilitate inward investment to help build the infrastructure for the green economy.

The Liberal government dropped the ball by failing to conclude parliamentary processes to enable entry into force of the Australia-UK free trade agreement and the Australia-India Economic Cooperation and Trade Agreement. Unlike the previous government, the Albanese Labor government—