Environmental Goods Agreement

This weekend I will lead Australia's delegation to the World Trade Organization Environmental Goods Agreement (EGA) negotiations in Geneva.

The EGA aims to bring down tariffs and prices on products that help address environmental problems. These include renewable energy and water management technologies, and goods that mitigate pollution, support recycling and help conserve natural resources.

Australia will chair the negotiations and join 45 other World Trade Organization members to try and finalise this important deal.

Successful conclusion of the Agreement will send a positive signal to global markets in a period of uncertainty that countries can work together to support trade, strengthen the global trade system, and contribute to environmental outcomes.

When concluded, the Agreement will create new opportunities for Australian exporters, make environmental goods cheaper for Australian consumers, increase trade in these innovative products, and deliver a cleaner environment for us all.

With the market for environmental goods expected to grow to an estimated US$3 trillion by 2020, the EGA will support Australia's ongoing global leadership in environmental technologies and help create more jobs in this growing sector of our economy.

Eliminating tariffs on environmental goods will also contribute towards global environmental efforts through the Paris Agreement on Climate Change.

The EGA countries – including the United States, China and members of the European Union – account for around 90 per cent of the global trade in environmental goods.

The Turnbull Government is pursuing an ambitious trade agenda to create new Australian jobs and drive economic growth.