Trade and Investment Ministers' Meeting

Mr PICTON (Kaurna) (14:37): My question is to—

Members interjecting:

The SPEAKER: I call the leader to order and I call the Treasurer to order.

Mr PICTON: My question is to the Minister for Investment and Trade. Can the minister inform the house about the outcomes of the recent Trade and Investment Ministers' Meeting?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Defence Industries, Minister for Veterans' Affairs) (14:38): I thank the member for Kaurna for his question. South Australia continues to perform very strongly with its international trade. The latest statistics show the state export growth has outpaced the national average for the 10^th consecutive month. The ABS trade figures also show overseas goods exported from South Australia grew 15.4 per cent to $12.4 billion for the 12 months to July 2014. This is the sixth straight 12-month period of state exports exceeding the $12 billion mark.

Our 15 per cent growth in the 12 months to July outpaced the national mark of 11 per cent, showing that South Australia is ahead of the game in developing new export markets. This growth rate has topped all other states, with 14 per cent for Western Australia and 10 per cent for Victoria. Exports from Queensland and New South Wales fell 1 per cent while Tasmanian exports were down 6 per cent. However, much work remains to be done. For that reason, last week I attended the Trade and Investment Ministers' Meeting, hosted in Cairns by federal Minister for Trade and Investment the Hon. Andrew Robb MP and also attended by trade and investment ministers from each state.

The forum established by minister Robb is an excellent example of governments, both state and federal, working together with the common objective to improve Australia's international engagement with its trading partners. Australia has entered its 23^rd year of uninterrupted annual economic growth, with the total value of this nation's exports reaching $319 billion in 2013, more than doubling in 10 years. It is interesting to observe that the main destination for Australia's exports has increasingly been northern Asia. In South Australia we have also recognised that shift, with the development of an international trade strategy for China. Nothing could be more important to our farmers and our small businesses, as well as our commodity traders and miners. Our trade focus also remains on India, and we have produced a South-East Asian strategy directions paper which is currently out for discussion.

A key focus of the forum hosted by minister Robb was how we could all work together to cooperate through a consistent Team Australia approach in respect of branding and international trade shows and missions. The state government recognises that the state's ongoing prosperity depends on our national and international connections and alliances. The state government will continue to work with investment specialists to support cooperative events and actions with the commonwealth through Austrade to ensure that our businesses enjoy growth in their exports going forward. As a result, the state has embedded Austrade officers in key international markets, and these officers are helping to strengthen South Australia's reputation on the global stage.

With the free trade agreements with Japan and Korea coming online, the federal government emphasised the importance of services exports as a way of expanding trade. In addition to its agricultural and mineral resource exports, South Australia has many opportunities for shared growth, such as education and training, aerospace and defence, water and technology. It is all about jobs, Mr Speaker.

Attracting foreign capital into Australia and into our state was a priority that was discussed with minister Robb and other ministers keen to build on a quality onshore investment project pipeline and to find ways to remove any impediments to foreign direct investment. The state government, and in particular the Department of State Development, will work tirelessly and cooperatively with industry and the commonwealth to expand existing and identify new trade opportunities which will deliver our goal for South Australia—which is jobs and enterprise in a state where people and business thrive.

Time expired.