Inquiry starts: Diversifying Australia's Trade and Investment Profile

THE Joint Standing Committee on Trade and Investment Growth has commenced a new inquiry into the 2018-19 annual reports of the Department of Foreign Affairs and Trade and Austrade.

The inquiry will focus on whether there is a need to diversify Australia’s trade markets; and Australia’s level of reliance on foreign investment.

Committee chair George Christensen MP said recent international events had highlighted vulnerabilities in Australia’s economy to external impacts, and the importance of looking at ways to mitigate these risks.

"As part of its inquiry, the committee will consider whether Australia is too reliant on foreign investment and any one market for exports, and the advantages and disadvantages of its current trade and investment profile," Mr Christensen said. "The committee will also examine how global crises and bilateral trade agreements affect Australia’s export and investment relationships, as well as its domestic market.

"The action that industry and government is taking to diversify trade markets and ensure Australia is not overly reliant on foreign investment will also be examined," Mr Christensen said.

Submissions from interested individuals, businesses and organisations are invited by Thursday, April 9, 2020. The preferred method of receiving submissions is by electronic format lodged online using a My Parliament account.

More information about the inquiry, including the full terms of reference and details on how to lodge a submission, is available on the Committee’s webpage.

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