The Joint Standing Committee on Trade and Investment Growth has released its final report into the Australian Government’s approach to negotiating trade and investment agreements, which examined how Australia can strengthen its approach to trade negotiations.

Media release issue date: Thursday, 2 May 2024

The Joint Standing Committee on Trade and Investment Growth has released its final report into the Australian Government’s approach to negotiating trade and investment agreements, which examined how Australia can strengthen its approach to trade negotiations. Australia’s trade and investment agreements reduce barriers to trade for Australian goods, services, and investment, creating well paid and secure jobs, improving our economic resilience, and contributing to economic growth and increased living standards. Throughout the inquiry the Committee heard about the immense benefits of trade to Australia, as well as the need to ensure that agreements are genuinely in the national interest. The Chair of the Committee, Mr Steve Georganas MP, said: “Trade makes a significant contribution to Australia’s prosperity and our approach to negotiating trade and investment agreements has served us well. However, it’s evident to the Committee that more robust processes to identify the impact of agreements on Australian jobs and industries would be highly valuable. We must continue to adapt and improve our approach to ensure that our participation in international trade is of the greatest benefit to all Australians.” The Committee’s report makes eight recommendations to strengthen Australia’s approach to negotiating trade and investment agreements including by: Undertaking independent modelling and analysis of each proposed or under review agreement. Establishing a consistent approach to evaluating agreements including conducting broader assessment of economic, social, and environmental impacts. Seeking to include human rights, labour, and environmental chapters in agreements, that where appropriate contain specific references to relevant international standards. Seeking to not include provisions in agreements that waive labour market and skills testing requirements or investor state dispute settlement provisions. Pursuing the inclusion of provisions in agreements that protect and promote First Nations intellectual property. Establishing a legislative framework to guide some elements of the negotiation of trade and investment agreements. The Committee’s final report builds on its interim report published on 6 February 2024, that made five recommendations focussed on improving transparency, accountability, and oversight in the process for negotiating Australia’s trade and investment agreements. Throughout the inquiry, the Committee held eight public hearings in Canberra, Melbourne and virtually, in addition to receiving 54 written submissions from businesses, unions, industry associations, government agencies, community groups and individuals.                                  The Committee would like to thank all those who have taken part in the inquiry by providing written submissions and giving evidence at public hearings. The Committee’s final report can be found on the inquiry webpage. Media inquiries Office of Mr Steve Georganas MP Chair, Joint Standing Committee on Trade and Investment Growth 0437 387 378 Steve.Georganas.MP@aph.gov.au For background information Joint Standing Committee on Trade and Investment Growth 02 6277 2233 jsctig@aph.gov.au

The Joint Standing Committee on Trade and Investment Growth is holding a virtual public hearing tomorrow on the Australian Government’s approach to negotiating trade and investment agreements.

Media release issue date: Wednesday, 13 March 2024

The Joint Standing Committee on Trade and Investment Growth is holding a virtual public hearing tomorrow on the Australian Government’s approach to negotiating trade and investment agreements. The Committee is considering how the Australian Government develops a negotiating mandate and framework that reflects whole of government priorities, as well as priorities for State and Territory Governments, businesses and workers, including processes for consultation. The Committee will also consider how to ensure agreements advance Australia's national and cultural interests, and that First Nations Australians can participate and benefit in trade. Further information about the inquiry, including published submissions, public hearing transcripts and an interim report are available on the inquiry webpage.   Public hearing details Thursday 14 March 2024 2:00pm to around 5:20pm (Canberra time) Live broadcast: https://www.aph.gov.au/News_and_Events/Watch_Read_Listen Media inquiries Office of Mr Steve Georganas MP 0437 387 378 Steve.Georganas.MP@aph.gov.au For background information Joint Standing Committee on Trade and Investment Growth 02 6277 2233 jsctig@aph.gov.au

The Joint Standing Committee on Trade and Investment Growth has released its interim report into the Australian Government’s approach to negotiating trade and investment agreements, examining how the process can be strengthened to build on Australia’s success as a trading nation and ensure agreements are of the greatest benefit for all Australians.

Media release issue date: Wednesday, 7 February 2024

The Joint Standing Committee on Trade and Investment Growth has released its interim report into the Australian Government’s approach to negotiating trade and investment agreements, examining how the process can be strengthened to build on Australia’s success as a trading nation and ensure agreements are of the greatest benefit for all Australians. Australia’s agreements reduce barriers to international trade and investment for Australian goods and services, playing an important role in creating well-paid and secure jobs, improving our economic resilience, and contributing to economic growth and increased living standards. Throughout the inquiry to date, the Committee has heard about the immense benefits of Australia’s participation in international trade, as well as the need to consider the potential effect of agreements on a wide range of stakeholders and how the benefits of trade are shared. The Chair of the Committee, Mr Steve Georganas MP, said: “Australia’s approach to negotiating trade and investment agreements has served us well, however the Committee has sought to understand how the approach could be improved to ensure agreements are of greatest benefit to the Australian community. “It’s evident to the Committee that more transparent consultation processes will allow increased understanding of the impact of trade agreements on stakeholders and that better utilising their insights and expertise can contribute to improved negotiation outcomes for Australia.” The interim report makes 5 recommendations focussed on strengthening Australia’s approach by improving transparency, accountability, and oversight in the negotiation of trade and investment agreements. These include: Establishing a tripartite trade advisory committee to achieve a better balance between transparency and confidentiality in negotiations, enabling in-depth and informed feedback to government. Codifying the practice of publishing information outlining negotiation aims and objectives for all future trade and investment agreement negotiations. Providing transparency and information to stakeholders and the public about negotiations equivalent to the information provided by the other party. Regular briefings to parliamentary committees on the status and progress of trade and investment agreements. Undertaking independent periodic reviews of agreements to ensure that they are operating as intended and achieving the expected benefits. In the final report, the Committee will cover the remaining inquiry Terms of Reference. So far during the inquiry, the Committee has held six public hearings in Canberra and Melbourne, in addition to receiving 54 written submissions from businesses, unions, industry associations, government agencies, community groups and individuals. The Committee will hear more evidence before the inquiry concludes. The Committee would like to thank all those who have taken part in the inquiry by providing written submissions and giving evidence at public hearings. The Committee looks forward to engaging further with stakeholders as it continues the inquiry and will provide a final report in due course. The interim report can be found on the Committee's inquiry webpage. Media inquiries Office of Mr Steve Georganas MP Chair, Joint Standing Committee on Trade and Investment Growth 0437 387 378 Steve.Georganas.MP@aph.gov.au For background information Joint Standing Committee on Trade and Investment Growth 02 6277 2233 jsctig@aph.gov.au

The Joint Standing Committee on Trade and Investment Growth will hold a public hearing in Melbourne for its inquiry into the Australian Government's approach to negotiating trade and investment agreements.

Media release issue date: Thursday, 2 November 2023

The Joint Standing Committee on Trade and Investment Growth will hold a public hearing in Melbourne on Friday, 3 November for its inquiry into the Australian Government's approach to negotiating trade and investment agreements. The Committee will hear from stakeholders including unions, the red meat industry, business associations and the Productivity Commission. This builds on the hearings recently held in Canberra with Department of Foreign Affairs and Trade, agriculture peak bodies, animal welfare organisations, cultural industries representatives, and academics amongst others. The inquiry is focussing on how the Australian Government develops a negotiating mandate and framework that reflects whole of government priorities, as well as priorities for State and Territory Governments, businesses and workers, including processes for consultation. It is also considering how to ensure agreements advance Australia’s national and cultural interests, and that First Nations Australians can participate and benefit in trade. Committee Chair, Mr Steve Georganas MP said: ‘The Committee has received a high number of quality submissions to the inquiry and is looking forward to hearing further from key stakeholders to understand how the approach taken to negotiating trade and investment agreements could be improved to ensure these agreements are of greatest benefit to the Australian community.’ Further information about the inquiry, including the terms of reference, published submissions and hearing transcripts, are available on the inquiry webpage.   Public hearing details Date: Friday, 3 November 2023 Time: 9.30am to 3.20pm (AEDT) Location: Legislative Council Committee Room 1, Parliament House, Melbourne The hearing will be broadcast live at aph.gov.au/live. The Committee intends to hold more public hearings in due course. Media inquiries Office of Mr Steve Georganas MP, Committee Chair 0437 387 378 Steve.Georganas.MP@aph.gov.au For background information Joint Standing Committee on Trade and Investment Growth 02 6277 2233 jsctig@aph.gov.au

The Joint Standing Committee on Trade and Investment Growth has launched an inquiry into the approach adopted by the Australian Government when negotiating trade and investment agreements.

Media release issue date: Thursday, 10 August 2023

The Joint Standing Committee on Trade and Investment Growth has launched an inquiry into the approach adopted by the Australian Government when negotiating trade and investment agreements. The inquiry will focus on how the Australian Government develops a negotiating mandate and framework that reflects whole of government priorities, as well as priorities for State and Territory Governments, businesses and workers, including processes for consultation. It will also consider how to ensure agreements advance Australia’s national and cultural interests, and that First Nations Australians can participate and benefit in trade. Committee Chair, Mr Steve Georganas MP said “Trade agreements serve an important role in creating well-paid, secure jobs, improving our economic resilience and increasing the living standards for Australians. “The Committee wants to hear from businesses, workers, industry associations and other interested parties from across the community to understand how the approach taken to negotiating trade and investment agreements could be improved to ensure these agreements are of greatest benefit to the Australian community.” The Committee is seeking submissions from interested individuals, businesses and organisations on the inquiry’s terms of reference by Friday, 22 September 2023. Further information about the inquiry, including published submissions and hearing transcripts, will be available on the inquiry webpage.   Media inquiries Office of Mr Steve Georganas MP 0437 387 378 Steve.Georganas.MP@aph.gov.au For background information Joint Standing Committee on Trade and Investment Growth 02 6277 2233 jsctig@aph.gov.au