Emerson welcomes OECD report on trade and jobs

Media release

25 May 2012

Minister for Trade and Competitiveness Craig Emerson today welcomed a new study showing open markets stimulate economic growth and create high-value jobs.

The study - Policy Priorities for International Trade and Jobs - was launched by the Organisation of Economic Cooperation and Development (OECD) Secretary General Angel Gurria in Paris.

Dr Emerson, who is in Paris for the annual OECD Ministerial Council Meeting, said the study's findings endorsed Australian Government policy supporting an open trading system and resisting protectionism.

"Open trade creates more jobs and better jobs," Dr Emerson said.

"Protectionism, on the other hand, punishes consumers by inflating prices and undermining economic competitiveness."

The OECD study debunks the myth that imports are bad for jobs, finding that both imports and exports drive productivity growth while helping create better skilled and higher paying jobs.

"This report backs the Australian Government's policy settings, which are there to create jobs and to build a stronger, prosperous future for Australians," Dr Emerson said.

The study follows the OECD's latest Economic Outlook, which says the Australian economy is expected to grow more strongly than any other major advanced economy over the next two years, and will almost double the average growth of OECD economies overall in 2012.

OECD press release

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