This week I will visit Chile to attend the Pacific Alliance High Level Dialogue and explore options to deepen our trade and investment relationship with Latin America.
The Dialogue will bring together Pacific Alliance countries (Chile, Colombia, Mexico and Peru) and Trans-Pacific Partnership (TPP) Agreement countries, as well as China and South Korea. A focus of the Dialogue will be our shared interest in open markets and economic integration in the Asia-Pacific.
I am looking forward to productive discussions with my TPP counterparts on ways to capture the benefits of the TPP following the United States’ decision to withdraw from the Agreement.
Australia is a strong supporter of the Pacific Alliance. Its efforts to promote trade liberalisation and combat protectionism align closely with the Turnbull Government's plan to create jobs and economic growth through trade.
At the Dialogue I will discuss opportunities for bilateral and multilateral initiatives with Pacific Alliance countries to strengthen economic linkages between Australia and Latin America. The Pacific Alliance accounts for 42 per cent of Latin American GDP on a purchasing power parity basis.
Latin America presents major economic opportunities for Australia, particularly in mining and energy, agriculture, education and professional services. With a population of more than 620 million, reform-minded governments and a growing middle class, this region presents real potential for Australian businesses seeking to diversify their export markets.
While in Chile, I will meet with Australian and Chilean business representatives to promote two-way investment in infrastructure. Almost 200 Australian companies operate in Chile, Australia’s third-largest trading partner in Latin America, and a bilateral FTA partner since 2009.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555