Trade and Investment Minister Andrew Robb will join regional ministerial counterparts in Manila this week for the Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting, before leading the largest ever Australian business delegation to Indonesia for Indonesia Australia Business Week.
APEC plays a crucial role in the Asia Pacific, promoting open markets for trade and investment, advancing economic cooperation, and improving the business environment. APEC’s 21 member economies account for 58 per cent of the world’s GDP and almost 73 per cent of Australia’s trade in goods and services.
Australia will be working to address regulatory – or ‘behind the border’ – barriers to services trade and investment.
“These reforms will boost opportunities for Australian services providers in areas like banking, telecommunication, education and professional services,” Mr Robb said.
Another priority for Australia is encouraging full implementation of tariff reductions in the 2012 APEC List of Environmental Goods, by the end of the year.
“This APEC tariff-cutting initiative will make green technologies cheaper and more accessible in the region,” Mr Robb said.
Australia supports APEC’s long term goal of a Free Trade Area of the Asia-Pacific.
“The recent conclusion of the Trans-Pacific Partnership and positive progress in the Regional Comprehensive Economic Partnership negotiations are a big step in this direction,” Mr Robb said.
The visit to Indonesia will strengthen the mutually beneficial trade and investment relationship between Australia and Indonesia. The business delegation will have a strong focus on key sectors that meet Indonesia’s needs such as infrastructure, agribusiness, advanced manufacturing, resources and energy, healthcare, education, food and beverage, and tourism.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555