Throughout this inquiry, evidence reflected the significance of international trade and investment to Australia, noting that it forms the basis for the success of many Australian industries and contributes to increased living standards. Australia’s trade is underpinned by an extensive architecture of trade and investment agreements, which are negotiated by the Department of Foreign Affairs and Trade (DFAT).

The Committee received evidence outlining a range of priorities and considerations for Australia’s approach to trade. Some identified the need for new trade agreements and better utilisation of existing agreements to continue to build export opportunities. Others discussed that the multilateral framework and rules-based trading system is in Australia’s best interests, while some noted the benefit of the bilateral and plurilateral approach in the absence of progress at the multilateral level.

This final report builds on the interim report to explore the evidence relating to the content of trade and investment agreements, with particular consideration given to determining that agreements are in the national interest, upholding international standards in relation to human rights, labour, and the environment, and protecting the ability of the Australian Government to regulate in the public interest across a range of policy areas. It also reflects on evidence outlining priorities, focus areas and considerations for Australia’s future approach to trade and considers the suitability of a legislative framework for the content of Australia’s trade and investment agreements.