Championing Open Trade at AusCan Forum 2020

In addition to my role as the Chief Executive of the Business Council of Australia, I’m also the Australian Co-Chair for the Australia-Canada Economic Leadership Forum (AusCan Forum), being held in Melbourne this week.

Alongside my Canadian Co-Chair Norman Steinberg, we stand together as advocates for global trade as an engine of growth. The seventh iteration of the AusCan Forum sees over 150 senior business, not-for-profit and political leaders converge to further promote job creating investment and economic opportunities to strengthen both nations.

Australia walked into 2020 facing challenges on global and local fronts. Media have extensively covered the trade war between the world’s two largest economies and the implications of Brexit. Closer to home, many of our communities continue to struggle with the bushfire crisis.

The current global political climate is one that fosters protectionist, anti-globalisation ethos – threatening the progressive trade agendas of our countries. The pursuit of open trade matters is critical in building a prosperous future; a perspective that Canada shares.

While each country has a reputation for friendliness, the goodwill that exists between Canada and Australia has resulted in smart, strategic outcomes. At the end of 2018, two-way direct investment between Canada and Australia was $40.9 billion, with Canadian direct investment in Australia amounting to $31.2 billion (High Commission of Canada in Australia, July 2019). Our nations work closely through multilateral institutions like G20, the UN and the Asia-Pacific Economic Cooperation. And in response to the devastating bushfires, over 170 experienced Canadian fire fighters and forest fire specialists have lent their hands and expertise to the cause.

Events like the AusCan Forum promote open trade and global engagement by showcasing the leadership and expertise that drive investment and collaboration between our countries. From smart cities and infrastructure to indigenous enterprise, I look forward to hearing the top minds of our nations discuss ways of strengthening and deepening the ties between our two liberal democracies.

Norman and I have written in today’s Financial Review on how open trade is a path to prosperity. You can read it here: https://bit.ly/38hlqRc

I encourage you to read, share and watch as events unfold over this next week by following #AusCanForum2020.