The Government's economic diplomacy strategy aims to ensure that Australia's diplomatic assets are harnessed to support the pursuit of open markets and commercial success by Australian companies and investors in key foreign markets, to generate growth, new jobs and new opportunities for Australian workers and families.
Australia's economic diplomacy agenda is guided by four pillars:
TRADE – Pursuing trade liberalisation through bilateral, regional and global trade agreements that open up new markets for Australian exporters and sustain a strong, rules-based architecture for global trade.
GROWTH – Supporting global growth, including by using Australia's aid program and other measures to promote economic reform and infrastructure, and through regional and global economic cooperation fora.
INVESTMENT – Promoting investment into Australia and Australian investment internationally.
BUSINESS – Advancing the interests of Australian business overseas, the development of a stronger private sector in our region, and promoting Australian tourism.
Agencies across the Foreign Affairs and Trade portfolio make significant contributions to economic diplomacy by negotiating trade agreements, supporting business overseas, encouraging economic growth and job-creating reforms in developing countries, finding new investors into Australia, promoting tourism, and building linkages in agricultural research. Other Australian Government agencies which interact with the international economy also play an important role in this whole-of-government effort.