Labor’s National Platform commits to an ‘ambitious fair trade agenda’. Conference welcomes the federal Labor Government's landmark work on ESG (environment, social, governance) standards in critical minerals trade with Europe, and domestic reform to promote and green premium in markets where Australia can add value to natural resources we have in abundance.
This reform and others like it are crucial to Australia's long-term success as a trading nation, and are a leading examples of Labor values expressed to the good of Australia's comparative advantage and global competitiveness.
They are a testament to Labor’s National Platform commitment to pursue an ‘ambitious fair-trade agenda’.
Though various trade measures are shaking out with a change of government in the US, some areas including critical minerals remain stable in bilateral trade with Australia.
The US has brought a range of policy in recent years, and under President Biden the Trade Representative Katharine Tai promoted benefits for workers and the environment of a ‘race to the top’.
Trade Minister Don Farrell has promoted similarly a ‘race to the top’ in connection with fair trade.
Through recent months, large trading blocs outside North America, including the EU and the Latin American Mercosur group have made trade agreement progress, including a deal endorsing the Paris Agreement, and potential significant supply of mining and agricultural products to the EU.
Australia should engage with these and other groups and countries pursuing an ambitious fair trade agenda, as well as sustaining engagement with trading partners seeing flux, like China and the US.