On Saturday 29 July 2023, the Governments of Australia and the USA released the following statement about the 33rd Australia-United States Ministerial Consultations (AUSMIN), held in Brisbane. The full and lengthy joint statement can be read on the Government Minister’s website, and the extract below is the part that will be of interest to those involved in international trade and shipping.
Notes
The term ‘the principals’ refers to: Minister for Foreign Affairs Penny Wong and Deputy Prime Minister and Minister for Defence Richard Marles – representing Australia – and the U.S. Secretary of State Antony J. Blinken and Secretary of Defense Lloyd J. Austin III – representing the USA.
The term ‘IPEF’ refers to the Indo-Pacific Economic Framework.
The term ‘APEC’ is the Asia-Pacific Economic Cooperation.
“Developing trusted regional trade infrastructure and resilient supply chains to build economic resilience.”
The principals reiterated their commitment to a rules-based international trading system. They opposed economic coercion in all its forms and recognised the importance of multilateral institutions and norms which promote free, fair, and open international trade.
The principals look forward to the substantial conclusion of negotiations for the remaining IPEF agreements on trade, clean economy, and fair economy, in support of IPEF’s vision for a free and open, connected, prosperous, resilient, inclusive, and secure Indo-Pacific region. Working together with 12 other IPEF partners, Australia and the United States seek to address economic challenges and opportunities, including through high-standard commitments related to trade, supply chains, clean energy, and anti-corruption and tax. They affirmed their commitment to ensuring that IPEF delivers for everyone. They commended the substantial conclusion of negotiations for the IPEF Supply Chains Agreement and reaffirmed their respective commitment to quick implementation in order to deliver concrete benefits as soon as possible.
The principals welcomed the collaboration and progress made during the United States’ APEC host year, including at the APEC Ministers Responsible for Trade Meeting and the Transportation Ministerial Meeting. They highlighted and acknowledged the importance of APEC as the premier economic forum in the region, which aims to create greater prosperity for the people of the region including by advancing a free, fair, and open trade and investment environment, sustainable economic growth, and women’s economic empowerment, and building a more interconnected, innovative, and inclusive APEC region. They also agreed to continue to work cooperatively toward the successful conclusion of the APEC year, including at the APEC Ministerial Meeting and the APEC Economic Leaders’ Meeting this November.
The principals highlighted their ongoing cooperation to build their shared economic security and economic resilience in a time of heighted competition. They recognised the value of the annual Australia-U.S. Strategic Commercial Dialogue to advance our shared geoeconomic and commercial interests across the nexus of economic, foreign, and national security policy.
The USA will host the next AUSMIN in 2024.
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