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

I rise to speak on the Customs Amendment (Australia-United Kingdom Free Trade Agreement Implementation) Bill 2022, the Customs Amendment (India-Australia Economic Cooperation and Trade Agreement Implementation) Bill 2022 and related bills. I will sum up for the government and make it clear that the government is very committed to seeking entry into force of the Australia-United Kingdom Free Trade Agreement and the Australia-India Economic Cooperation and Trade Agreement as soon as possible to enable the many benefits to be realised.

The Joint Standing Committee on Treaties scrutinised both agreements and recommended that binding treaty action be taken to implement these two fine agreements. I wish to express my sincere thanks to all the members of the committee for preparing a valuable report. Special thanks go to the chair, Mr Josh Wilson.

The Australia-United Kingdom Free Trade Agreement includes ambitious outcomes to benefit both Australia and the United Kingdom. These include: eliminating tariffs on over 99 per cent of Australian goods exported to the United Kingdom, valued at about $9.2 billion; enhancing pathways for workers and young people to work in both countries; and supporting the free movement of data to enhance growth in the digital economy.

The Australia-India Economic Cooperation and Trade Agreement secures Australia's access to the fastest growing Indian market, a market of 1.4 billion people, and provides a solid basis to negotiate a further comprehensive economic cooperation agreement. The agreement will deliver many benefits to Australian producers and service suppliers. These include eliminating tariffs on 90 per cent of Australia's current goods and exports to India by value and locking in access to many sectors in Australia's third-largest services export market. A trade agreement with India will give Australian exporters a competitive advantage in the Indian market and opportunities for very important trade diversification.

I note that some senators on the crossbench have raised specific concerns in relation to the two trade agreements, including the negotiating process. The speech I delivered on 14 November at the RMIT APEC Study Centre in Melbourne outlines the government's approach to trade and investment policy. The government is committed to ensuring transparency in trade negotiations and seeks to balance: firstly, the need for confidentiality during the negotiations; secondly, the respective roles of the executive and parliament; and, finally, the interests of a range of stakeholders. To enhance stakeholder engagement, the government has established the Trade 2040 Taskforce. This task force will ensure that traditionally marginalised voices are amplified, including those of First Nations people and women.

Finally, the government's approach to trade recognises that Australia's economic resilience depends on open global trade relations, underpinned by robust rules. More trade, not less, is a key part of how we'll build the economic future we want in Australia, with secure, high-paying jobs and an open, internationally competitive economy powered by clean energy. Trade agreements with India and the United Kingdom will assist Australia to reach its full economic potential. I'd like to thank my fellow senators, including Senator Birmingham, for supporting the legislation that will ratify these important trade agreements.