Source: Australian Attorney General’s Agencies
[Acknowledgments omitted]
The CPTPP is a symbol of what can be achieved through regional engagement in the face of global pressure.
It is an agreement that is working every day to grow trade, make it easier, and spread the benefits of free and fair trade.
It is an agreement that new countries want to join, and one that existing members continue to improve.
A turn away from free and fair trade has emerged in some parts of the world in recent years.
But all of us know the benefits of an open, rules-based global trading system.
That doesn’t mean that our system is perfect, we know it needs work and some of the rules need to change.
WTO rules can’t always be enforced, and its dispute resolution function has not been performing as it should.
We will all prosper through improvements to the rules around how we trade and invest across international borders.
Australia remains committed to reforming the WTO system in ways that both prioritises our national interest and supports a predictable, stable and transparent global trading environment.
The United States has imposed tariffs on every nation in the world and we’re seeing firsthand the effect that is having on the global economy.
Tariffs are a tax on consumers. They are an act of economic self harm.
In this age of uncertainty, the CPTPP offers a model of fairness, sustainability and mutual benefit.
Free trade is critical to our national security and prosperity, and Australia remains committed to it.
As the 2025 CPTPP Chair, Australia will keep pushing for the evolution of a robust, rules-based global trading system, beyond the gold standard already set by this Agreement.
As chair, our theme is “delivering sustainable trade and resilient growth”.
We have three priorities.
First, we want to increase trade.
That might seem a simple goal, since we know that trade increases economic prosperity at all ends.
But when people are talking about turning inwards , it only makes it more important that we focus on the opposite approach.
An approach focused on improving market access opportunities for business, industry and communities.
Second, we want to facilitate trade.
We must always ask ourselves, as member economies, how do we make it easier for businesses and people to trade among our economies?
And third, we want to spread the benefits of trade.
We know that when women participate more in the economy, they drive growth.
We want to see more female entrepreneurs active in trade across CPTPP members.
We also want to see more businesses led by Indigenous Peoples trading in the region.
And making the agreement more inclusive is another way CPTPP can show leadership to the world.
While some are arguing that trade is a threat, we must show what trade delivers.
We must show it delivers prosperity to the individual and the nation.
So as the 2025 CPTPP Chair, we will be pleased to mark continued progress on the General Review of the CPTPP agreement.
This is a great opportunity for all members to future-proof the agreement, so that it continues to deliver for our economies and remains resilient in the face of global pressures.
The benefits aren’t hypothetical.
The benefits are real, and many more are possible if we continue to engage, learn and shape this agreement to meet evolving needs.
For our part, Australia isn’t just working through one mechanism to bolster trade.
We take every opportunity to diversify our markets, strengthen our partnerships and open doors for business.
In February, my department launched a new roadmap for Australia’s economic engagement with India backed by $16 million in trade accelerator funding and an additional $4 million for the Maitri program.
This initiative deepens cultural and business ties through cooperation in education, research and continued advancements in technology and innovation.
We have signed a new trade agreement with the United Arab Emirates, expected to generate $700 million in Australian exports to the Middle East.
We have ratified the upgraded ASEAN-Australia New Zealand Free Trade Agreement, supporting small businesses, digital trade and gender equality across the region.
Nearly half a million Australian jobs are tied to trade with Southeast Asia, and through our Southeast Asia Economic Strategy to 2040, we are ensuring that number continues to grow.
And of course, we are continuing to work on a Free Trade Agreement with the European Union.
Friends, as the 2025 CPTPP Chair, Australia is focused on making sure we take a strategic approach to global trade issues.
At the heart of that project is bolstering and strengthening the rules of the global trading system.
The CPTPP is a gold standard agreement – and we are keen to work to maintain its credentials as a catalyst for collaboration, innovation and ambition across our region.
Thank you for sharing your thoughts today and I look forward to hearing about your insights.
Thank you.
MIL OSI News –