Scientific cooperation through treaties and supporting the IMF

AT A PUBLIC hearing today the Joint Committee on Treaties will examine three agreements aimed at encouraging scientific cooperation and collaboration. It will also look at changes to the International Monetary Fund’s arrangements to borrow from Australia.

Agreements with the USA, New Zealand and Israel will promote closer relationships between the scientific community and businesses within Australia and these countries.

Committee Chair, Stuart Robert MP, said that providing a formal legal framework to streamline cooperative ventures will ensure that Australia is an attractive partner to those leading the important scientific projects driving innovation and technological breakthroughs.   

“These treaty actions are expected to boost Australia’s innovation system, attract investors and promote commercialisation in the global market,” the Chair said.

Australia is a strong supporter of the IMF, and the new arrangements for borrowing will renew an agreement that has been in place since 1997.  

Mr Robert said, “The IMF provides a safety net for countries in economic difficulty and its continued stability is important to world security. This agreement continues Australia’s commitment to its work.”

 

Public hearing details: 11:00 am to 12:30 pm, Monday, 4 September, Committee Room 2R1, Parliament House, Canberra

11:00am-11:45am: Treasury (IMF New Arrangements to Borrow–amendment)
11:45am-12:30pm: Department of Industry, Innovation and Science (Science agreements with USA, NZ and Israel)
12:30pm: Close

The hearing will be broadcast live at aph.gov.au/live.

Interested members of the public may wish to track the committee via the website. 

ends