Address by Minister Champagne at the Canada-Australia Economic Leadership Forum

February 21, 2017– Sydney, Australia

Check against delivery. This speech has been translated in accordance with the official languages policy and edited for posting and distribution in accordance with the Government of Canada’s communications policy.

Good morning; and thank you for the very nice introduction.

It’s a privilege to be here with our great friends from Down Under. I want to thank the organizers for the invitation to help open the Canada-Australia Economic Leadership Forum. .

Australia and Canada are already long-standing partners. As Wesley Enoch, your esteemed director of the Sydney Festival recently noted: “Canada echoes Australia and we echo Canada. We are like mirrors in so many ways.”

Ok, perhaps not with respect to Aussie Rules, but otherwise …

We’ve already had a very successful exchange of ideas at the Women in Business event I attended yesterday. I am proud of our Government’s commitment to support more women entrepreneurs, and greater visibility and numbers of women-owned businesses, and I was happy to discover the great work that is being done here, as well.

As you know, our Prime Minister is a proud feminist, and so am I!

Some of you might be aware that I met with Prime Minister Turnbull just before this forum. Our meeting echoed the conversation our Prime Minister Justin Trudeau had with Prime Minister Turnbull in January, during which they agreed to promote an open and progressive international trade agenda.

They also spoke of the importance that initiatives such as this Forum have ‎in advancing the relationship. I could not agree more.

Rules-based trade fosters stability and predictability, something that is very much in need at this moment in history.

This morning, I would like to speak with you about some of our government’s priorities: free and progressive trade, a strong presence in the Asia-Pacific Region, and increased trade and investment flows, including with Australia.

As you all know, trade and investment are the twin engines of growth for the global economy. However, in order to truly lead on that front, we must address popular concerns about globalization.

I was with my Prime Minister last week in Strasbourg, where he spoke pointedly about the fact that we must remain open to the world in order to create and maintain the prosperity that we have today.

Canada has always been a trading nation. It is trade that has helped build this country into a top 10 global economy with the world’s 38^th largest population.

Our government strongly believes that international trade and investment means economic growth and prosperity, and therefore more good-paying jobs to help strengthen our middle class, as well as those working hard to join it. Trade means growth, and growth means jobs. l

As leaders from all walks of life, we know that in today’s world, we must work harder to make the case that trade works for people; it is incumbent on everyone in this room to make that real – make trade real for consumers, exporters and SMEs.

And, I say that not just as a former business person, having spent most of my life working for energy firms in Europe before entering politics. I’m very familiar with the importance of trade.

In Hamburg on Friday, Prime Minister Justin Trudeau repeated the call that everyone must benefit from trade, not just the elites, or the so-called “one-percent”. We’re seeing a big rise in anti-globalization and anti-trade sentiment around the world. Our government is pushing back against that by pursuing a modern and progressive trade agenda.

By investing in people, we obtain the social license to pursue an ambitious trade agenda. But what does progressive trade mean?  

It means more emphasis on progressive content, including clear exclusions of areas such as public health and safety; clear provisions to promote gender equality, labour and human rights. We must always regulate in the public interest and take into consideration the environment. Investment dispute resolution processes must be seen as fair and impartial.

It means being open and maintaining a continuous dialogue with civil society and a broader range of stakeholders, with a particular focus on women, Indigenous peoples, youth, and small- and medium-sized businesses.

It means recognizing the need for transparency and investing in efforts to better disseminate information. Progressive trade also means pushing our companies toward more responsible and sustainable business conduct.

Our government stands for these progressive values, and will promote them at the G-7, G-20, WTO, and beyond. Only then can we make sure that all segments of society, in Canada and around the world, can take advantage of the economic opportunities that flow from trade and investment. Only then can we focus on delivering results for the middle class.

A great example of this is our Comprehensive Economic and Trade Agreement with the European Union, or CETA, for short. I am sure you all saw that the European Parliament ratified CETA last week. CETA is the most progressive trade agreement Canada or the EU have ever negotiated.

When we started negotiations more than a decade ago, we could not anticipate then how much this would become the absolute right deal at the right time. With NAFTA and CETA, Canada now has referential access to a market of more than 1.1 billion people.

Our government is firmly committed to creating new sources of prosperity and to opening new markets in the Asia-Pacific Region. Asia’s share of global GDP now exceeds that of the EU and the US, and it contributes more than 50 percent of global growth. Four of Canada’s top five trading partners, including China, are APEC members.

It’s no secret to anyone here that the global centre of economic power is shifting dramatically from the west to the east. But in Canada, with the longest coastline in the world – illustrated by our motto, “from Sea to Sea” – the longest international border in the world with the U.S., and with a strong and deep relationship with Europe over the course of our history, we have had to remind ourselves that we are very much a Pacific Nation.

This government is working hard to make sure we are well-positioned to be a constructive partner in building opportunities for all in our region.

For example, we are committed to expanding trade relations with our friends from across the ASEAN region, with whom we are celebrating in 2017 forty years of relationship. .

At the ASEAN Economic Ministers meeting last August, my predecessor, Chrystia Freeland, tasked our officials with preparing terms of reference for a feasibility study on the merits of a free trade agreement.

In fact, last year we doubled the number of people working full-time on ASEAN matters at our new dedicated Mission to ASEAN.

Canada is also working very hard to expand our trade and investment relations with markets such as India, Japan and China.

That brings me back to where I started. There are great opportunities to deepen our trade and investment ties here in Australia

A country with whom we share common values; and with whom we work shoulder to shoulder to advance them. We share a love for sport, our vast lands, and our entrepreneurial spirit which shaped our nations.

Our trade relations go back to 1895 when Canada sent its first trade commissioner -- or commercial agent as they were known back then -- to Sydney.

Today our bilateral commercial relations are strong, and continue to grow. In 2015, our two-way trade in goods was $4.0 billion, and two-way services trade was valued at nearly $2.6billion. Our investment ties are also substantial. At the end of 2015, Australian investment in Canada was valued at $8.3 billion, with over 80 Australian companies operating in Canada, primarily in the mining and resources sector, education, finance, travel services, and retail. Canadian investment in Australia was valued at over $24.8 billion at the end of 2015.

There are many Canadian companies that are active here in Australia, including companies such as Energy Navigator, and CIVITAS Urban Design and Planning. CIVITAS won the bid to develop the Urban Design Framework Plan for the Australian National University.

Dynamo Playgrounds is another Canadian success story here – their playground equipment can be found in dozens of projects in the Northern Territory, Brisbane, Perth, and the Outback.

There is great promise in both Canada and Australia for more trade and investment successes. In fact, if my conversation with Canadian Pension Funds and Investors yesterday is any indication, we’re only just scratching the surface.

If you are sitting in this room, you must know that Canadas is a great destination for business. According to the Economist Intelligence Unit, Canada ranks first for doing business in the G20 over the 2016 to 2020 five year period. And KPMG says that Canada has the lowest overall business costs in the G7.

We want to get better at telling our story. That’s why our government decided to launch a new Invest in Canada Hub later this year. With an initial investment of $218 million over five years, the Invest in Canada Hub will provide seamless, single-window, client support and concierge services targeted at high-impact investors.

Our government has also announced a new infrastructure investment bank, with $186 billion over 12 years to improve water, waste water, transportation and social infrastructure.

My friends, despite the vast geographic distance between us, Canada and Australia follow remarkably similar paths. We have built on the enduring strengths that we inherited from our European ancestors, and have added the common experience of multicultural, immigrant nations.

At home, we share a belief in giving all of our citizens “a fair go”.

That’s why we have a large and growing middle class to which hundreds of millions of people in the developing world aspire to belong. Abroad, we are committed to free and fair trade, helping those in need and defending global security.

Canada and Australia are uniquely able to serve as a force for positive change in the world. And we should commit ourselves to the service of that cause together.

Thank you.