Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I thank Senator Back for his supplementary question. As the Chinese economy transitions from being reliant on infrastructure spending and exports to being a service economy with a high level of domestic consumption, Australia has been given a unique first mover advantage in a wide range of services. Australia was an integral part of the first phase of China's rapid development by supplying iron ore, and we will be part of the next phase by providing services. As part of these services opportunities, the China-Australia Free Trade Agreement provides a pathway to open opportunities in general government procurement based on principles of a fair and non-discriminatory treatment for Australian suppliers and products. China has a $1.5 trillion government procurement market, and in Australia we have great depth in the market for private services to government. There are tremendous opportunities here for Australian service exporters, and Labor should be getting out of the way and letting it happen.