Labor believes in the power of trade to create jobs and economic development in Australia. Labor is the party of free, fair and open trade. 

Labor knows trade diversification is key to Australia’s future prosperity, and that’s why we have today announced our Trade Diversification Plan – to reconnect Australia to our region and get our trading relationships back on track. 

On Scott Morrison’s watch, Australia has become more dependent on China than any other country for exports. It’s time to diversify.

The Government’s approach to international relationships is “set and forget”: they’re all about the photo opportunity at the trade deal signing ceremony but have failed in the follow-up. 

An Albanese Labor Government will do the hard work that’s needed to support our exporters to pursue opportunities in new markets.

Labor’s Trade Diversification Plan has four main pillars:

• An Export Market and Product Diversification Strategy, involving a whole-of-government approach to re-engage with the Indo-Pacific, early Ministerial visits to Indonesia, India, Vietnam, Malaysia and Japan, and a Trade 2040 Taskforce.
  
  
• A renewed focus on building economic ties with India, including an update of the 2018 India Economic Strategy, an annual India-Australia Economic Dialogue, and developing Indian language capabilities in Australia.
  
  
• Revitalising our trade relationship with Indonesia, including an annual Economic 2+2 dialogue and activating joint economic cooperation committees outlined in the Indonesia–Australia Comprehensive Economic Partnership Agreement.
  
  
• Supporting the accession of Indonesia, Thailand and South Korea to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, cooperating with the US on the Indo-Pacific Economic Framework and encouraging their participation in other regional fora.