Economic diplomacy

Economic diplomacy is at the core of the Australian Government's international engagement. DFAT is leading the government's economic diplomacy agenda bringing together Australia's foreign, trade, development and other international economic activities, to deliver greater prosperity for Australia, our region and the world.

Australia's economic diplomacy agenda is guided by four key objectives:

  • Trade — Pursue 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 — Support 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 — Promote investment into Australia and Australian investment internationally.
  • Business — Advance the interests of Australian business overseas, the development of a stronger private sector in our region, and promote 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 agencies in the Australian Government which interact with the international economy will also play an important role in this whole of government effort.