Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Disclaimer: The Parliamentary Library does not warrant the accuracy of closed captions. These are derived automatically from the broadcaster's signal.
ABC News 24 Afternoon Live -

View in ParlView

(generated from captions) This program is not captioned. The ABC is your space to connect,
to share and to enjoy. And we really want to know how
the ABC is working, or not, for you. We're launching
a new online community and we need you to be a part of it. So come on, get amongst it. Head to abcyourspace.net.au
and start talking.

This program is not captioned.

We've been talking this morning about investment, about innovation, about all of the elements that add to stronger trade and stronger economic growth. Jobs and growth, here in Laos, supported by Australian aid, supported by Australian support for entrepreneurship. And it's good that we're doing so because today we see in the national accounts confirmation that we've had 25 years of uninterrupted economic growth in Australia and very strong growth figures relative to other developed economies and, of course, much higher growth figures, as they have been for some time, for example than in any of the G7. And that growth, that strong economic performance in Australia, over a quarter of a century, has been built upon the hard work of millions of Australians - millions of businesses, large and small. It has been built on a commitment to open markets and free trade. It has been built on a commitment to economic reform and ensuring that our economy has the flexibility to cope with shocks, such as the big rise in our terms of trade during the mining construction boom and, of course, the inevitable decline. So it is a tribute to the resilience of our economy, but a reminder that we can't take that growth for granted - we have to ensure that we remain committed to those values of free trade, open markets, innovation, entrepreneurship. These are the keys. Now, here, meeting with the leaders of the region, the eight of our ten largest trading partners, the most powerful countries in the world represented here, what we are reminded of is the importance of our prosperity, dependent upon the open markets in the rest of the world. That's why I made the point in Hangzhou, and this was something that all the leaders agreed on, I might say, is that protectionism is not a ladder to get you out of the growth trap. It's a shovel to dig you deeper into it - dig you deeper into the low growth trap. So protectionism will lead to slower growth, it will lead to more poverty, it will lead to fewer people being lifted out of poverty and declining living standards, so that's something we have to resist and we have to make the case for open markets and trade. At the same time, that prosperity, both in Australia and through the region, is underpinned by peace and stability, and so national security is a vital element in our economic security. You can't have economic security without national security. We've seen in the last few days the reckless, dangerous, provocative conduct by the government of North Korea, with their latest missile tests, and that has been condemned by the Security Council overnight, just as it was condemned by myself as Prime Minister and our government and other governments around the world. We also face a very real challenge in terms of terrorism. Now, we've seen the ISIL publication urging attacks at a number of well-known Australian locations. We have to take these threats seriously. As I said last week in my national security statement to the parliament, as ISIL or Daesh is rolled back in the Middle East, they will seek to maintain relevance by seeking to inspire attacks elsewhere in the world. Now, many of the nations that are here assembled - Indonesia, Malaysia, the Philippines just to name a few - have been victims of significant terrorist attacks in very recent times. They, too, face the challenge of returning foreign fighters, adding to already-radicalised elements in their community. So our collaboration in terms of counter-terrorism is critically important. It is intense now - it will become more so, we are engaged now, and we will become more engaged. Cooperation in that regard, particularly in terms of intelligence sharing, is vitally important. So these are big themes - economic security, national security - that we'll be discussing here today and I look forward to the countries of our region working more closely together to secure our future, to secure the prosperity of all our communities.PM, you are meeting Shinzo Abe this afternoon.I am.One of his big security concerns is what's going on in the East China Sea and we've seen Japan by responding there by changing its constitution so it can be more aadventurous overseas. Are you concerned about Japan and China rubbing up against each other? What would be your message today?Well, we support the continuation of the harmony - relative harmony - of more than 40 years, frankly, in East Asia. It is vitally important that all parties work together openly in accordance with the rule of law, and avoid in any context provocative actions which are likely to add to, or create, tensions.Prime Minister, do you think summit is going to be able to do anything constructive on the South China Sea? And what's your message to the summit going to be about how the region who manage relationships between China and the US?Well, the China and the United States have... That commitment increases over time and they both have an enormous role to play. All of the countries in our region - and Australia is absolutely no exception here - have a commitment to working both with China and the United States. The United States is obviously our very closest strategic partner. But we have very close and friendly relations with China - they're our largest trading partner and the ties between Australia and China get tighter all the time. As I said in Hangzhou, only last year there were nearly a quarter million tourists come to Australia and I think next year there will be more, which is the year of China/Australia tourism. So I know it's fashionable to say that you've got to choose between China and the United States - the reality is, these are both enormously important powers in every respect and all of the countries in this region, I know, from dealing with their leaders, all of us are committed to working with both, because our commitment is to maintain peace and harmony in this part of the world where we live.

This program is not captioned.

This program is not captioned.