My question is to the Minister for Resources and Minister for Northern Australia. How is the Australia-European Union Free Trade Agreement, together with the government's critical minerals production tax incentive, helping Australia capture more jobs, investment and value from our critical minerals?

I thank the member for Swan for her question. She is a fantastic advocate for her community in Western Australia. The Australia-EU Free Trade Agreement is a landmark agreement for Australia's resources sector, opening new opportunities for our critical minerals industry at a time of growing demand for secure and reliable energy supply chains as well as increasing risks on overdependence on any one supplier. This agreement will remove all tariffs on Australian critical minerals exports to the European Union. Europe has an advanced manufacturing industry and is looking for reliable suppliers of critical minerals and processed materials from trusted partners, and Australia is that trusted partner. Yesterday, I was delighted to meet with officials and ministers from around the world, particularly from EU member states such as Germany, France and Finland, all of whom are seeking to invest further in Australia's critical minerals industries off the back of the elimination of tariffs on these exports under the European Union free trade agreement with this nation and on the basis of the trusted relationship that this free trade agreement will secure with one of the world's largest economic blocs, worth more than $30 trillion. Because of this, it is without doubt that the Australia-European Union free trade agreement will drive more investment and create more jobs in the critical minerals sector right around the country.

Importantly, this agreement will work hand-in-hand with a suite of policies of the Albanese Labor government to develop what will be a globally significant industry, and that includes the critical minerals production tax incentive, which helps attract investment into processing and refining critical minerals right here. Last night, the member for Goldstein set out his plans to scrap this critical support. Let's be clear what this would mean: it would send investment, jobs and processing opportunities offshore at a time when this government is working to bring them to Australia and make the most from our geology. In dismissing the need for these incentives, those opposite once again demonstrate their distinct lack of understanding of the challenges faced by an emerging part of our resources sector. The markets the critical minerals industry has to deal with are opaque, distorted by bans on exports and are subject to price manipulation. That is why the strategic support that this government has implemented is essential to secure that investment and to build processing capacity right here in Australia—right where it should be.

The critical minerals production tax incentive establishes the credibility of Australia on the world stage. We are taking this responsibility very seriously, while those opposite simply want to give away this opportunity and let others do the hard work.