Media Release
16 October, 2009
Australia United States Ministerial Trade Talks
The Minister for Trade, Simon Crean, met today with the United States Trade Representative, Ambassador Ron Kirk, in Washington DC for annual trade and economic talks.
Today’s Australia-United States Ministerial Trade Talks (AUSMINTT) were the first held with Ambassador Kirk and the Obama Administration. The annual talks reflect the strong trade and economic relationship between our two countries. In 2008, two-way trade in goods and services was $55 billion and two-way investment was $813 billion.
AUSMINTT provides the opportunity to discuss a broad range of bilateral, regional and global trade and economic issues that impact on Australian and US interests. The breadth and depth of the bilateral relationship allows our two countries to work closely together regionally, such as in APEC which the US will host in 2011, and multilaterally in the WTO, the G20 and in other fora.
Minister Crean and Ambassador Kirk agreed that there was great potential to build on the Australia-US Free Trade Agreement to open up new commercial opportunities.
“With the services sector contributing more than 70 per cent of growth and 20-30 per cent of exports in our respective economies, we are working with the United States on continuing to expand access for the high quality professional service providers Australia has to offer the US market,” Mr Crean said.
“During the talks I raised Australia’s on-going concerns about the 2008 US Farm Bill, emphasising Australia’s continuing interest in gaining better market access for agricultural exports including dairy, horticulture products and sugar. I also pressed the US on Australia’s concerns about mandatory country-of-origin labelling for beef, the US Dairy Import Assessment and Dairy Export Subsidies program.”
Minister Crean and Ambassador Kirk discussed the continuing close working relationship between Australia and the US on regional economic and trade developments. This included the conclusion of the ASEAN-Australia-New Zealand Free Trade Agreement and the opportunities this FTA would provide to Australian companies and US businesses based in Australia to engage with a region that is home to 600 million people and has an annual GDP of $3.2 trillion.
Minister Crean and Ambassador Kirk also discussed developments in the East Asia Summit process, which is strengthening regional economic cooperation and enhancing trade and economic opportunities.
“I also underlined to Ambassador Kirk our strong desire to work closely with the US to secure ambitious outcomes for APEC, ahead of the United States’ host year in 2011, particularly to ensure APEC continues to drive the trade and investment liberalisation agenda throughout the region.”
Minister Crean and Ambassador Kirk discussed continuing progress on the Doha Round trade negotiations and how Australia and the US can work with the broader WTO membership to conclude the Round. A recent report from a US – based think tank – the Peterson Institute for International Economics – suggests the potential gains from concluding the Doha Round could be as high as US$700 billion, depending on the level of ambition.
“Australia welcomes the commitment of the G20 Leaders in Pittsburgh to seek an ambitious and balanced conclusion of the Doha Round in 2010. The challenge now is to ensure that the commitment of G20 Leaders on concluding the Round is translated into timely action and progress in the negotiations.”
“I look forward to continued close cooperation with Ambassador Kirk and the Obama Administration as we work towards conclusion of the Doha Round, expand regional opportunities and support the global economic recovery through trade,” Mr Crean said.
The United States is scheduled to host the next meeting of AUSMINTT.
Media Inquiries: Mr Crean’s office