As the world continues to grapple with the COVID-19 pandemic and we face the strongest economic headwinds in generations, it is only natural that Australia will look to enduring partners, especially in crucial and sensitive fields like investment.

This report makes it abundantly clear that when it comes to investment, Australia has no stronger or more reliable partner than the United States. Total two-way investment amounted to an impressive $1.8 trillion in 2019 — equal in scale to around 90 per cent of the value of the entire Australian share market.

US investment now accounts for over one-quarter of total foreign direct investment into Australia, nearly double the share from our second highest investor, the United Kingdom. What cannot be quantified and shouldn’t be understated is the significant business nous, skills and new technology that has been brought to our shores as a result of this investment.

Our strong investment ties have been underpinned by the Australia-United States Free Trade Agreement (AUSFTA). This year celebrating its 15th birthday, AUSFTA has been the bedrock of our investment relationship. Since the agreement came into effect on 1 January 2005, the size of the investment relationship has nearly tripled, while two-way trade has also almost doubled.

Australia’s long-term investment partnership with the United States has continued to thrive because of our complementary economies, shared values, strong institutions and close people-to-people links.

Like any partnership there are challenges, but one thing is for sure, we need this investment relationship now more than ever, as both our economies begin the long road to recovery from COVID-19 and both our nations strive for long-term prosperity.