Asia Pacific Economic Cooperation Ministerial Meeting

  • Media release

Today I arrive in Peru for the Asia-Pacific EconomicCooperation (APEC) Ministerial Meeting.

In Lima, I will discuss initiatives that will createAustralian jobs and drive economic growth with my ministerial counterparts fromthe 21 APEC economies.

With my APEC counterparts, I will work to increase tradein services, a sector employing four out of five Australians. This "ServicesRoadmap" will help boost Australian services such as education, finance and logistics.

We will also conclude a study on the Free TradeArea of the Asia-Pacific (FTAAP),which sets out agreed actions towards a future freetrade zone. A high-quality FTAAP would facilitate greater market access,through a more level playing field, for Australia's exporters.

APEC promotes open markets for trade and investment,as well as economic and regulatory cooperation. APEC members account for 72 percent of Australia's trade in goods and services and 57 per cent of the world'sGDP.

Australia's links with Peru, this year's APEC host,are expanding. I will meet Peruvian ministers and representatives from some ofthe almost 90 Australian companies which have invested in Peru.

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