Four pillars of Australia’s economic diplomacy

1. 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.

The Government has established an ambitious trade agenda, pushing for greater trade liberalisation—both multilaterally and through free trade agreements.

See DFAT’s trade section for more on Australia’s trade agenda.

2. Growth

Support global growth, including by using Australia’s aid programme and other measures to promote economic reform and infrastructure, and through regional and global economic cooperation forums.

At the G20 Leaders’ Summit in Brisbane in November 2014, leaders agreed to substantial actions to lift global growth, increase job opportunities and make the global economy more resilient. Under Australian’s G20 Presidency, G20 leaders made a collective commitment to boost growth by an additional 2 per cent by 2018. G20 nations delivered growth strategies that totaled more than 1,000 new structural reform commitments. According to the IMF and OECD, around 50 per cent of the Brisbane growth strategy measures have been fully implemented. Australia continues to play an active role in the G20 urging accelerated efforts by G20 members to meet the 2 per cent growth target.

3. Investment

Promote investment into Australia and Australian investment internationally.

Australia’s prosperity has been built on two centuries of international investment. Attracting productive international investment will create new jobs and new industries to support our future prosperity. Our development activities help developing countries attract international investment.

See DFAT’s investment section for more on Australia and foreign investment.

4. Business

Advance the interests of Australian business overseas, the development of a stronger private sector in our region, and promote Australian tourism.

The Government is committed to supporting Australian businesses in Australia and overseas. Our development activities promote sustainable growth in the private sector in developing countries. We promote Australian tourism in line with the Government’s Tourism 2020 strategy.

See the business engagement page for more on how the foreign affairs and trade portfolio works with business.

Economic diplomacy activities across Australia’s international relationships

Infographic: Economic diplomacy activities. See text alternative link following this image.

Text alternative for this infographic.

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.

Trade and investment

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 forums.

Australia's aid program

Investment

Promote investment into Australia and Australian investment internationally.

Investment

Business

Advance the interests of Australian business overseas, the development of a stronger private sector in our region, and promote Australian tourism.

Business@DFAT