From 16-17 October, I will represent the Australian Government at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers Meeting in Port Moresby, Papua New Guinea.
Providing an opportunity for developed and developing economies to work together on significant global and regional issues, APEC is the pre-eminent economic forum in the Asia-Pacific region.
This is the first time APEC has been held in Papua New Guinea. Consistent with our long-term and enduring strategic and economic partnership, Australia is pleased to support Papua New Guinea’s hosting of APEC.
The Asia-Pacific region is one of the fastest growing areas of the global economy. Trade and investment links fostered by APEC economies have driven the growth and prosperity of our region – seven of our top 10 trading partners and more than 70 per cent of our trade is in the region.
Australia’s 27 consecutive years of economic growth have been built on open markets and on broadening and deepening linkages with the Asia-Pacific region.
I will emphasise the importance of open markets and the rules-based multilateral system to ensure that our region remains the engine of global growth.
I will also reaffirm Australia’s commitment to addressing multinational tax avoidance, and discuss private sector investment in infrastructure. I look forward to emphasising the importance of transparent and open investment that occurs with robust standards and is sustainable.
These issues are key priorities for APEC and Australia welcomes the opportunity to continue to progress this important work with our regional partners.
In addition to the APEC Finance Ministers Meeting, I will hold a number of discussions with key government and business representatives.
I look forward to representing Australia’s interests during these important international discussions.
During the trip, I will also visit the Bomana War Cemetery to honour those Australians and other servicemen and women who lost their lives in the Pacific Campaign.