New opportunities for Australian businesses – growing the TPP-11 and expanding our links with India

I will visit India and Japan from 15 - 20 January 2019.

In India, I will meet Indian government and business leaders and attend the Vibrant Gujarat Global Summit 2019 – India’s premier trade and investment event – to further Australia’s economic agenda. 

Australia is a partner country for this year’s Vibrant Gujarat Summit, which will be opened by India’s Prime Minister Mr Narendra Modi. The Australian delegation will include the Governor of New South Wales, His Excellency General the Honourable David Hurley AC DSC (Ret’d), and members of the Australia India Business Council. 

India is the world’s fastest growing major economy. The Australian Government’s response to the independent report, An India Economic Strategy to 2035, will position Australia to partner with India to grow both our economies into the future. 

Following my visit to India, I will attend the first meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11) Commission in Japan. At this meeting, I will pursue Australia’s interests in ensuring the smooth implementation of the TPP-11, and progress efforts to set rules for its expansion.

This year marks the fourth anniversary of the Japan-Australia Economic Partnership Agreement. While in Tokyo, I will also promote Australia’s high quality produce and holiday experiences to Japanese consumers.

The TPP-11, now in force for Australia, Canada, Japan, Mexico, New Zealand, Singapore and Vietnam, sets a new benchmark for regional economic integration. The TPP-11 has already delivered two tariff cuts in short order and significantly increases market access for Australian investors and exporters of goods and services to a regional free trade area with a combined GDP of more than $13.8 trillion and close to 500 million consumers.

Bill Shorten said that the TPP-11 wouldn’t happen, was “dead in the water” and a “waste of time”. Under Labor’s policy, the TPP-11 could never happen because the Labor party would rather appease their union mates than stand up and support the growth of Australian business, jobs and investment.