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

Once again, I thank Senator Polley. Earlier this month I did join ministers from 13 other partners across the Indo-Pacific in Los Angeles to launch negotiations for the Indo-Pacific Economic Framework. Together, IPEF members represent over 40 per cent of global GDP and, for Australia, eight of our top 10 trading partners. At the meeting it was agreed that negotiations would cover a range of new and emerging issues on trade, supply chains, clean energy, decarbonisation, infrastructure, as well as tax and anticorruption. Launching IPEF negotiations is a significant step in the future of greater economic cooperation in the Indo-Pacific region. It brings together the United States; north and south Asian partners, including India; and most importantly, our Pacific neighbour, Fiji. IPEF is an important element of the Albanese Labor government's trade diversification agenda.