Press Release

Australian Prime Minister Encourages Trade for Economic growth

17/11/2018

The Prime Minister of Australia Scott Morrison, emphasised on free trade and how togetherness is essential for economic growth in his address today at the CEO summit.

The Prime Minister of Australia Scott Morrison, emphasised on free trade and how togetherness is essential for economic growth in his address today at the CEO summit.

Morrison said Papua New Guinea has become family to Australia over the past years and the APEC event gives all other economies the opportunity to honour and recognise the theme in APEC, the Pacific and the Pacific economy.

“Now I’ve already made clear to the Prime Minister (Peter O’Neill) that Australia is stepping up, we will step up as part of our step up initiative in the Pacific and we will take our engagement to a new level.”

Morrison added that some principles mentioned by former Australian Prime Minister John Howard for economic growth are still relevant today

Mr Howard mentioned three conditions for economic growth which include responsible, domestic to economic management, market access for exports and tackling infrastructure constraints.

“You know no country gets rich selling things to itself, that’s why APEC encourages trade and by taking practical steps on the things that matter to business,” Mr Howard said.

He further emphasised on connectivity and the digital economy for sustainable development and also said practical engagement is vital for economic growth and progress.

“The test for us all now is to stand up for the economic value we believe in and show how they work to demonstrate how they live with these standards and have lifted thousands of people out of poverty.

“And to show to all the other economies what happens when you work together with partnership that you create jobs ,prosperity and a more safe, secure and peaceful region.”

Meantime, Morrison reiterated that Free trade is essential for any economy and Australia’s commitment towards it is consistent despite the many challenges it may come with.