James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

My question is to the cabinet secretary representing the Minister for Trade, Tourism and Investment, Senator Sinodinos. Can the cabinet secretary outline what the Turnbull government is doing to open new markets for Australian businesses, particularly small- and medium-sized enterprises?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

I thank Senator Paterson for his question and for his interest in free trade. He is a convinced free-trader. We need more of them in this place! From the day we took office in 2013 the government has worked hard to gain preferential market access with our largest trading partners to benefit Australian businesses. At their core, the free trade agreements are designed to open up new markets or make us more competitive in the existing ones.

Exports have played a crucial role in Australia's 25 years record of unbroken economic growth and the Liberal-National coalition's free trade agreements have ensured our exports continue to grow. The Japan-Australia Economic Partnership Agreement has provided real benefit for a lot of great Australian businesses who will now have preferential market access secured under the Japan agreement and has taken our relationship with Japan to a new level.

The China-Australia Free Trade Agreement tells a similar story for Australian businesses, with entire industries increasing their exports by 200 per cent. In the first six months of the China agreement coming into force we have seen lobster and crayfish exports up 218 per cent, milk powder up 196 per cent, mangoes up 165 per cent, fresh grapes up 118 per cent and fresh cherries up 127 per cent. It sounds like a day at the markets!

The benefits of the China-Australia Free Trade Agreement are undeniable. And that is not to mention the Korea-Australia Free Trade Agreement, which covers more than $34 billion of trade annually between our two nations, and this number is set to grow with tariffs to come off 99.8 per cent of all Australian exports to Korea, Senator Sterle. The coalition government has a proud record when it comes to free trade.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Paterson, a supplementary question.

James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

I thank the Cabinet Secretary for his kind words and for sharing that encouraging news. Can the Cabinet Secretary update the Senate on how the government is continuing to build on this positive record on trade?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

Yes, the work goes on, Senator Patterson. You are absolutely correct, through you, Mr President. The Turnbull coalition government—for it is a coalition government, and the National Party have benefited greatly from those free trade agreements, solid free traders—are working towards agreements with the European Union and Indonesia, and engaging with the United Kingdom post Brexit. We will continue to build support for an Australia-EU free trade agreement and reinforce the strength of Australia's relationship with the EU and its member states. The Minister for Trade, Tourism and Investment met with the European Commissioner for Trade, Cecilia Malmstrom, and joined the Minister for Foreign Affairs in addressing the European parliament. The EU is our second-largest trading partner and our largest source of foreign investment. It is our largest two-way trade-in-services partner. A free trade agreement will drive economic growth and create jobs as European businesses look to Australia as a gateway to Asia. (Time expired)

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Paterson, a final supplementary question.

James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Is the Cabinet Secretary aware of any threats to Australian exporters and the Australian economy?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

The threat is from those who believe that increased protection somehow creates jobs. It does not create jobs. When we oppose free trade agreements we are cutting off our nose to spite our face. We are a great trading nation. We can feed a large part of the world. We can do great things with our advanced manufacturing industries, building on our naval shipbuilding plan, and there are—

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

You'd better talk to the National Party!

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

The National Party are great supporters—I will take that interjection—of free trade because they know the benefits to our rural and regional areas and to the Australian bush, and they are doing a great job of prosecuting them.

One thing that does stand in the way are people like the CFMEU and others who have sought to wind-up the Labor Party on things like ChAFTA and stop those agreements coming into force. We will continue to prosecute the case for free trade. It is in our interest to do so.

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

Mr President, I ask that further questions be placed on the Notice Paper.