Five pillars of the Economic and Commercial Diplomacy Agenda
Focused on the five priority sectors for inbound investment: agribusiness and food; major infrastructure; tourism infrastructure; resources and energy; and advanced manufacturing, services and technology.
We will strengthen Australia's international reputation as a destination for, and source of, foreign investment; championing open investment policy settings abroad; and promoting investment partnership opportunities in global supply chains. We will focus on changes in regulatory conditions affecting Australian Foreign Direct Investment (FDI), approaches to critical infrastructure and Australia's reputation as an investment destination.
Addressing non-tariff barriers to trade
Non-tariff barriers to trade can be any kind of government regulation, other than a customs duty, that unreasonably and unjustifiably restricts trade in goods and services. These should be reported to to the Department of Foreign Affairs and Trade.
We will identify, analyse and take action to address policy and regulatory developments that create non-tariff barriers.
We will focus on seeking out and harvesting commercial-level information on non-tariff barriers deemed high priorities.
Active support and facilitation to business engaged internationally
We will provide program support, services and advice to businesses.
We will also highlight and explain market access and related opportunities and issues, including (but not confined to) those flowing from Free Trade Agreements and aid program-related initiatives.
We will focus on clearly defining joint efforts and activities that maximise the impact in terms of advancing specific or more generalised commercial interests.
Advocating for the global rules-based trade system
We will undertake activities to build understanding and support in governments, civil society and business for the multilateral and regional rules that govern trade and investment, focussing on the World Trade Organization (WTO) and Asia-Pacific Economic Cooperation (APEC).
We will highlight the role of Australia's Free Trade Agreements in supporting and strengthening the global rules-based trade system.
Increasing science, technology and innovation links
We will deliver program support, services and advice related to commercially focused innovation networks, private public partnerships on research and development, and entrepreneurial opportunities. This includes landing pads, technology commercialisation, and facilitation of advanced technology industries.
We will identify offshore sources of support and financing, coordinate joint activities with the Department of Industry, Innovation and Science and others such as the Commonwealth Scientific and Industrial Research Organisation (CSIRO), and connect with state and territory government initiatives.