Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The Asia-Pacific Economic Cooperation is an economic summit that was, in fact, the result of an initiative by Bob Hawke. That was in the days when the Labor Party believed in free trade and believed in economic integration with our neighbours in Asia. Sadly, not any more. It is a very different Labor Party today. Now they are campaigning against the economic liberalisation and the free trade that delivers jobs and growth, just like they are seeking to protect the CFMEU and the thugs in the CFMEU—whereas Bob Hawke, of course, deregistered the Builders Labourers Federation.

APEC accounts for 60 per cent of global GDP and 73 per cent of our trade. Leaders were very focused on the need to maintain the momentum towards further economic integration, recognising the way in which trade has delivered strong growth and jobs in Australia, in Asia and, indeed, in Latin America—in Peru, where the meeting was held. But all the leaders recognised the need to ensure that growth was inclusive. We recognised that we are at a time of rapid economic change that has had enormous benefits for billions of people but, invariably, at times of change there is disruption, and communities, industries and businesses can feel left behind. It is vitally important that governments ensure that nobody is left behind and that growth is absolutely inclusive.

We have seen in Australia the benefits of opening up those big markets in Asia over the last term of government, the benefits that have flowed to regional Australia. There is perhaps no better example of that than Tasmania, a state which has been facing strong economic headwinds for many years but is now enjoying some of the strongest growth—

Ms Plibersek interjecting—

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