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Securing the benefits of global economic integration

Overview

Treasury promotes strong, sustainable economic growth by advising Treasury ministers on all matters of macroeconomic importance including the international context in which we operate. We advise on changes in the international tax framework and the way Australia’s tax policy settings and regulations influence the integration of the economy. We also advise on and promote Australia’s interests in the international arena, including through advocacy for global economic openness and supporting regional and global macroeconomic stability.

Our advice and advocacy are informed by attending officials’ level international meetings within the G20 and Asia-Pacific Economic Cooperation (APEC) forums, as well as through international financial institutions like the International Monetary Fund (IMF), World Bank, Asian Infrastructure Investment Bank and public investment funds.

In an increasingly complex and rapidly evolving global context, we must anticipate current and future analytical needs, and build and maintain the right mix of capabilities and technical tools.

Priorities

In 2018–19, and over the forward estimates, we will:

  • Provide timely reporting on key international developments, information notes assessing their implications for Australia and advice on ways to proactively protect and pursue Australia’s interests, in particular, on trade and foreign investment.
  • Advocate and advance Australia’s interests through the G20 and the international financial institutions, specifically open trade, a resilient international financial system, best practice for infrastructure financing and governance, and the stability of the Pacific region.
  • Advise on and advocate Australia’s position in regard to international tax frameworks and specific policy approaches.
  • Ensure a safe and inclusive workplace for our staff, including physical safety for staff travelling or posted overseas.
  • Assess foreign investment proposals consistent with the requirements of the Foreign Acquisitions and Takeovers Act 1975, and ensure Australia’s foreign investment framework is clearly communicated to potential investors and our administration is efficient.