Trade Statement 2007

Australia’s 2006 trade performance was a record and exports are expected to continue to grow, the Minister for Trade, Warren Truss, said during the launch of the Trade Statement 2007 in Canberra today.

Mr Truss said trade was delivering more wealth and better jobs for all Australians. The Trade Statement 2007 reports on the Australian Government’s achievements in trade policy over the past year and details our export performance and outlook.

“The Government has created the right climate for Australian exporters. In 2006, Australia’s exports rose 16 per cent to a record $210 billon and our export prices continue to grow - a scenario not seen since the early 1950s,” Mr Truss said.

Mr Truss said Australia’s trade performance is strong because we have built an internationally-competitive economy and encouraged a domestic environment that fosters an export culture. Nineteen of our top 25 exports achieved record values in 2006.

“The Howard/Vaile Government is opening doors for Australian exporters. In the past financial year, Austrade, the Australian Government’s export promotion agency, helped 16,000 clients and more than 5,000 companies to generate around $18 billion in exports,” he said.

The Export Finance and Insurance Corporation, Australia’s export credit agency, is also developing new ways to help small to medium-sized enterprises (SMEs) export and globalise.

Mr Truss said that other Government initiatives, such as the Global Opportunities Programme and the Australian Industry Productivity Centres, will also help SMEs become more integrated into global supply chains.

“These schemes add up to a comprehensive approach to help secure our long-term prosperity and to facilitate Australia’s competitive advantage in international trade.

“The Trade Statement 2007 reinforces Australia’s success in an increasingly diverse and growing range of exports, pushed along by the Australian Government’s leadership in world trade fora and the pursuit of high-quality Free Trade Agreements.

“The most effective way to provide future prosperity through trade is to break down barriers abroad and to work for reform through the World Trade Organization.

“A successful conclusion to the Doha Round of negotiations remains our top trade priority.

“A good outcome will need to provide real commercial opportunities, better market access and freer and fairer trade for agriculture, services and non-agricultural products.”

“High-quality, comprehensive Free Trade Agreements (FTAs) can also deliver important trade liberalising outcomes in their own right. So while the WTO remains our most important objective, we cannot ignore the potential benefits of FTAs, especially when other countries are actively pursuing them in markets of interest to us,” he said.

The Trade Statement 2007 is available at www.dfat.gov.au/trade/trade2007

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555