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

Yes, I can, Senator Polley. And thank you for the wonderful job you do on behalf of the people of Tasmania. I know you know all the benefits that come to Tasmania from free trade. Open trade is a net positive for Australia. Recent analysis showed that one in four jobs is related to trade in this country—and many of them are in Tasmania, I might add. Jobs in export industries pay five per cent above the national average income.

As outlined in my speech on 14 November to the APEC Study Centre in Melbourne, there are four principles guiding Australia's approach to international trade and investment under the government. The first principle is that to meet the challenges of our time we need to deepen and diversify our trading relationships. Placing all your trade eggs in the one basket has proved bad economic strategy. Secondly, Australia is working collaboratively with like-minded partners to support an open, rules based, multitrading system that works in Australia's interests. Thirdly, we're investing in ourselves, using industry policy to ensure Australia's exports are more complex, of higher value and more sophisticated. And, finally, the fourth principle is that trade must be a driver of inclusive economic growth and greater economic wellbeing for all Australians. More trade, not less is a key part of how we build the economic future that we want in Australia, a future of secure, high-paying jobs. (Time expired)