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Labour to refocus trade on Asia, abandon US trade push
The Opposition Labour Party said on Thursday it would refocus Australia`s trade efforts on Asia if it wins next month`s election and indicated it would abandon the government`s push for a free trade deal with the US.
The Opposition Labour Party said on Thursday it would refocus Australia's trade efforts on Asia if it wins next month's election and indicated it would abandon the government's push for a free trade deal with the US.
With only nine days to go before Australia's November 10 parliamentary elections, Labour released a new trade policy which criticises Prime Minister John Howard's government for allowing trade, economic and political relations with Asia to stagnate.
The poor political and diplomatic relationship Australia has with Asia under the Howard government impacts on our trading interests. Australian economic and trade relations with key Asian economies have stagnated, the policy document said. Trade spokesman Senator Peter Cook said Labour would pursue a trade treaty with China as a high priority, pursuepolicy engagement with India and a trade facilitation agreement with Japan.
Labour's plan for trade will re-engage with the Asia-Pacific region, ending the Howard government's neglect of APEC's (Asia Pacific Economic Cooperation Forum) economic agenda and promoting economic opportunities for Australian in China and India, he said.
Cook said the government had become fixated on a US Free Trade Agreement (FTA) even though it was unlikely to be successful. His policy, while committing Labour to continuing talks with the US over an enhanced economic relationship does not embrace the proposed free trade pact, noting that it could have a potential impact on Australia's other international relationships.
Bureau Report
The poor political and diplomatic relationship Australia has with Asia under the Howard government impacts on our trading interests. Australian economic and trade relations with key Asian economies have stagnated, the policy document said. Trade spokesman Senator Peter Cook said Labour would pursue a trade treaty with China as a high priority, pursuepolicy engagement with India and a trade facilitation agreement with Japan.
Labour's plan for trade will re-engage with the Asia-Pacific region, ending the Howard government's neglect of APEC's (Asia Pacific Economic Cooperation Forum) economic agenda and promoting economic opportunities for Australian in China and India, he said.
Cook said the government had become fixated on a US Free Trade Agreement (FTA) even though it was unlikely to be successful. His policy, while committing Labour to continuing talks with the US over an enhanced economic relationship does not embrace the proposed free trade pact, noting that it could have a potential impact on Australia's other international relationships.
Bureau Report