I begin by acknowledging the traditional custodians of the land on which we gather today, and pay my respects to their elders past, present and emerging.
I also recognise the many guests here today including industry representatives, my parliamentary colleagues, Chief Minister Andrew Barr, former Labor Ministers Joel Fitzgibbon and Michael Lee, members of the diplomatic corps, members of the press club and my wife, Nimfa.
In July last year, I delivered the Lowy Address to a packed room of Australian foreign policy experts, journalists and diplomats.
We were just a few short months in the wake of President Trump’s Liberation Day and tensions were ratcheting up as the world adjusted to the new normal in global trade.
We found ourselves in a world where Australians weren’t looking at the front pages of the Australian or the Financial Review for their morning news headlines.
Instead, they were looking across the Pacific to see what the latest news out of Washington meant for them.
Trade was on the agenda internationally, around the cabinet room, and in our homes at our dining tables.
At Lowy, I spoke of how the post-Second World War rules-based order was being challenged as global superpowers rewrote the rules from which they have benefited for decades.
The liberalisation of trade which has lifted millions out of poverty, driven competition, and strengthened ties between nations, which were once adversaries, is no longer the sole orthodoxy.
In fact, this government has faced the biggest pressure on trade policy of any government in the post-war era.
Australia is blessed by an abundance of prime agricultural land, the critical minerals needed to transform the global economy, the ingenuity of our advanced manufacturers, and our highly skilled professionals.
This means we have benefited greatly from the post-war consensus on free and fair trade as our exports travel the world onto dining room tables, factory floors and the power plants that power nations.
It also means that we are exposed in the face of growing protectionism internationally. The energy shock we are living through today is a clear reminder of the higher costs consumers face when the global trading system isn’t flowing well.
As we assess the new normal in trade, middle-powers like Australia have a choice.
Do we rebuild the trade barriers of the past through new tariffs?
Or, do we continue to expand or open up new trading relationships with partners?
To me, the choice is simple.
As Australia’s Trade Minister – the longest serving in twenty years – I have taken a clear-eyed view of my role.
More trade means more well-paid, secure jobs for Australians – particularly in the agriculture sector.
More trade means more small and medium businesses thriving as our world-class products find new markets.
More trade means cheaper products for Australian families and businesses.
And, more trade means a stronger economy for every Australian.
That is why I have tirelessly and consistently pursued an agenda which will deliver more trade for Australia.
Because, in the words of the Canadian Prime Minister Mark Carney in his address to our Parliament –
'…in this brave new world, middle powers cannot simply build higher walls and retreat behind them.'
Since first coming to office as Trade Minister in 2022, I am proud to have overseen the steady growth of Australia’s trade with the world.
This government was elected on a promise to diversify our trade - and we have delivered.
Since its commencement in 2023, the Australia-United Kingdom Free Trade Agreement has seen our exports to the UK more than double under this government.
Our agreement with India has seen trade increase by 17%, giving more Australian exporters access to the world’s largest country by population which is experiencing the rapid expansion of a middle class primed to enjoy the best of Australia’s agricultural exports.
And most recently, our landmark trade agreement with the United Arab Emirates – Australia’s first in the Middle East – is delivering real commercial dividends for our farmers and exporters, and the heft of the UAE’s sovereign wealth funds looks to Australia for new investment opportunities in clean energy projects.
In January I led the largest delegation of Australian exporters to Gulfood in Dubai where we were able to continue capitalising on our deal with the UAE as demand for our agricultural, industrial and services exports booms.
This has been supported by the Albanese Labor Government’s $50 million accessing new markets initiative, seeing government and industry working in lock-step to expand and deepen exports across the globe.
It would be remiss of me to not acknowledge some of the excellent companies who joined me for the trip to the UAE including Ferguson Australia, Bickfords, and Honey for Life.
When Labor came to government, we inherited $20 billion worth of impediments to Australia’s exports to China – putting pressure on wine producers in the Hunter Valley, red meat exporters in Queensland and fishermen in the south-east of my home state.
Through considered and consistent engagement with the Chinese Government, particularly my counterpart Commerce Minister Wang Wentao, we have seen these all of these trade impediments removed.
And in response to Liberation Day in the United States, Australia’s position as a trusted partner to the United States, and our decision to not retaliate through our own tariffs, which would only harm Australian consumers and businesses, has seen us maintain the lowest possible tariff rate under President Trump’s trade agenda and secure carveouts for Aussie beef exports.
While the Opposition demanded we do more but refused to explain what they thought that should be, our approach of working with our American counterparts to remind them of the benefits of trade between our two economies was vindicated.
And we have continued to work with like-minded partners to strengthen multilateral bodies like the World Trade Organisation to uphold the rules-based order. I want to acknowledge my Assistant Minister, Matt Thistlethwaite who has been in Cameroon for the past week, representing us both, to defend Australia’s interests at the latest WTO meeting.
Labor’s approach to trade has seen the value of Australia’s total trade increase to a record $1.3 trillion.
This figure represents real and meaningful economic growth for the country.
It represents meat processing jobs that are vital to supporting towns like Murray Bridge in South Australia.
It represents jobs underground producing minerals like alumina, copper and silicon which will power the global energy transition.
And, it represents Australian know-how helping build infrastructure projects in Southeast Asia and the Middle East like the Riyadh Metro Bowl which I visited in January.
That brings me to the missing piece of the trade puzzle in Australia’s network of trading relationships.
Last week, after eight years of formal negotiations and decades of speculation, Australia and the European Union have finally struck a Free Trade Agreement.
We estimate that this agreement will be worth $10 billion for Australia and is one that is firmly within Australia’s national interest.
This is a once in a generation trade agreement with the world’s second largest economy – valued at $30 trillion.
And it will finally open up access to a market of twenty-seven member countries and 450 million consumers.
This is an enormous opportunity for Australia’s world-class producers, farmers, businesses and exporters.
And once the Agreement is implemented, Australia’s network of trade agreements will span almost 90% of the globe.
Our network of free trade agreements – built over the past twenty-five years by governments of both persuasions – is second to none. It is a huge national asset.
Our Agreement with the Europeans will deliver real and meaningful benefits for Australian producers, farmers, manufacturers and exporters.
Our seafood industry will see the removal of tariffs of up to 26%, making it easier for our $7 million worth of seafood exports to the EU to grow and thrive.
Tariffs on Aussie dairy, rice, sugar, nuts, honey, olive oil, fruit and veg will all be either eliminated or significantly reduced.
Our critical minerals will face a tariff cut from 5.5% to 0%, and we will strengthen cooperation between Australia and the EU on critical minerals, renewables and research.
For Australia’s wine industry, there is excellent news.
Our world-class wine producers will benefit from $37 million in savings when European tariffs are eliminated upon implementation of the agreement.
We’ve also protected the right for producers to continue using the term Prosecco in Australia, indefinitely. But I will get to this win soon.
The simplification of how Australian qualifications are recognised in Europe will mean that more of our world-class professionals will be able to take Aussie ingenuity and creativity to Europe, putting our stamp on the world.
And our red meat sector is going to benefit from this deal.
Market access for beef will rise to 35,000 tonnes and sheep meat to 30,000 tonnes, representing a 700% increase and 500% increase in market access respectively.
Importantly, the increased volumes for beef and sheep meat are also subject to better conditions which will make it easier for our world-class product to hit shelves in the EU. We have also secured a clause which enables a review of these volumes in five years time.
This outcome reflects the key asks put to me by industry in 2023 – higher volumes, better conditions and a chance to take a second crack.
But don’t just take my word for it, here is what industry is saying:
Seaford Industry Australia said:
'This FTA should facilitate important long term market development opportunities for many seafood exports.'
AusVeg, the peak body for vegetable, potato and onion growers said:
'Providing additional market opportunities into the EU for Australian vegetable grower-exporters is some welcome good news.'
The Business Council of Australia welcome the deal as a:
'Major win for Australians, supporting jobs, lowering costs for households and creating new opportunities for businesses to grow and compete globally.'
Australian Grape & Wine said the removal of tariffs on Australian wine is:
'Good news for our exporters and for the long-term competitiveness of Australian wine in a major global market.'
And the Export Council of Australia said:
'The FTA “comes at the perfect time”. For Australian exporters and investors, this agreement delivers what they need most: certainty, scale, and a clear pathway into one of the world’s largest and most sophisticated markets.'
Free trade does more than just create more opportunities for Australian exporters.
It makes things cheaper right here at home for consumers and businesses by cutting the costs of imported products from European nations by eliminating our 5% tariffs on European goods, and making electric vehicle imports from the EU cheaper through changes to the Luxury Car Tax.
Our agreement with the European Union goes beyond the economic benefit to our exporters and producers - we have protected the right for producers of European heritage to maintain their connection to family and culture, by continuing to use terms like parmesan, kransky and feta to label their products.
As someone who is acutely aware of my own Irish heritage, I knew that this outcome was absolutely essential for Australia throughout negotiations.
I particularly want to pay tribute to the prosecco producers of Australia, and the local member for many of them Helen Haines, who were persistent in their advocacy to me about the importance of protecting their $200 million industry.
Under our Agreement with the EU, Australian prosecco producers will be able to continue to use the name here in Australia, indefinitely.
There has been some public commentary in recent days from particular sectors about what this deal means for them.
I respect their views and have been frank with them publicly and privately that I disagree with their assessments.
As Trade Minister, I must assess trade agreements in the national interest.
The Australian economy and community is made up of the broadest range imaginable of producers, suppliers, cultural groups and industries.
My role is to balance the competing needs of priorities of these disparate groups to deliver a deal which delivers for Australia.
I am of the firm view that this deal does just that.
And to be clear, I don’t do bad deals.
For decades there has been a clear and consistent bipartisan approach to free trade in this country.
Since Prime Minister Bob Hawke began lowering tariffs to open Australia up to the world, to the trade agreements struck by both Labor and Coalition Governments in the 2000s and 2010s, free and fair trade has been the goal.
Labor continues to unapologetically back free and fair trade because we understand that it is good for our economy, good for Australia and good for the world.
Through this deal, our government continues to build a stronger, more stable, more rules-based environment for our economic interests, in partnership with the world’s second largest economy.
I challenge the Coalition under Angus Taylor and Matt Canavan to explain to Australian exporters and consumers why they are considering ripping up decades of bipartisanship on free and fair trade.
Will they take us out of the bucket of nations building links and growing economies through trade, or will they put us in the bucket of those driving up costs for consumers and imposing barriers where there were none before.
Now, I’ve been sat across negotiation tables for decades, including with some of Australia’s toughest business and political leaders.
From negotiating on behalf of retail workers for better wages and conditions and negotiating a deal to keep Harris Scarfe alive, to negotiating with the myriad personalities that make up the Senate crossbench.
I’ve seen it all.
But my European counterpart – Trade Commissioner Maros Sefcovic – is one of the toughest negotiators I have ever come across.
Of course, I want to reassure Australians that I gave as good as I got in these negotiations with the EU.
I walked away twice in 2023 when the offer on beef and sheep meat wasn’t good enough, and it is a point of pride that when I met President Von der Leyen on her arrival in Australia, her first words to me were:
'So you’re the man who has been causing all this trouble for me.'
These deals cannot be done without the dedicated teams of negotiators on both sides, and I wish to thank the Australian officials who have spent countless hours advocating for our interests.
They have been ably led by Chief Negotiator Cathy Raper, and before her by Alison Burrows.
I also wish to congratulate and thank Ken Gordon, my Senior Adviser, who worked on these negotiations well before joining my office in 2022. He is an integral part of my team, and I hope that he is able to take a breather after what has been a massive couple of years.
Not too long though, we have work to do.
Because, the job of a Trade Minister is never over.
I am not the kind of Minister to down tools after a headline, leaving industry to figure it out on their own.
I will work with our agencies, including Austrade and Export Finance Australia, and across government to ensure that any Aussie seeking to walk through the doors opened by free trade, will find the help they need to do so.
Whether you’re a farmer looking for a new market for your produce, a manufacturer whose life saving product is ready for export or a service supplier ready to take your skills to the world.
I, and the Albanese Government, are here to help.
Thank you