Visit to the United States and Colombia

This week I am visitingthe United States and Colombia to advance trade, tourism and investmentopportunities for Australia.

Increasing Australia'strade through new export opportunities and attracting fresh investment willhelp create new Australian jobs and drive economic growth.

In New York I will meetleading investment firms to encourage further investment in Australia and inMiami I will meet representatives from the international cruise industry topromote Australia as a tourist destination.

The United States is akey economic and trading partner for Australia. It is the largestinvestor in Australia and is Australia's largest investment destination – withtwo-way investment worth $1.48 trillion last year.

The United States isour second largest trading partner and second largest market for total visitorspend, with visitors from the United States spending $3.7 billion in Australiain 2016.

Our trade andinvestment relationship has flourished under the Australia – United States FreeTrade Agreement (AUSFTA). Since it entered into force, two-way trade has grownfrom $42 billion in 2005 to $64 billion in 2016.

In Colombia, I willattend the 12th Presidential Summit of the Pacific Alliance. The PacificAlliance comprises Chile, Colombia, Mexico and Peru and is a significant tradingbloc. Members collectively account for 37 per cent of Latin America'spopulation, 227 million consumers, and 35 per cent of Latin America's nominalGDP, USD 1.865 trillion in 2015.

At the PresidentialSummit I will meet with my counterparts to advance new trade opportunities forAustralian exporters.