Tuesday, February 27, 2024
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Remarks to the Australia Germany Business Reception

It’s a pleasure to be in Berlin on my first official visit as Prime Minister.

And it’s great to join you this evening to talk about the opportunities ahead.

Germany and Australia have had a diplomatic relationship spanning 70 years.

During this time, Germany has transformed itself into the economic backbone of Europe.

And Australia has become a major player in resources and energy trade, with a vibrant and diverse economy.

My discussions with Chancellor Scholz earlier today were focused on the future …

… and building even stronger bonds between our people and our economies.

Because there’s enormous potential to be tapped.

There are few economies in the world as complementary as ours.

I am determined to transform Australia into a renewable energy superpower.

Our cooperation with Germany on hydrogen is a testament to this effort.

We’re continuing to explore opportunities to export Australian green hydrogen and critical minerals to Germany — drawing, of course, on both German and Australian technology and know-how.

Pursuing such opportunities means Australia and our trading partners can all benefit, and new downstream industries can contribute to Australian jobs and economic growth and to the global transition to net zero.

Of course, challenges abound.

We feel the same economic headwinds in Australia as here in Germany.

  • Forecast global growth is the weakest it has been in two decades.
  • Advanced economies are managing tight budgets, high inflation and rising interest rates.
  • Russia’s illegal and abhorrent invasion of Ukraine continues to take an enormous toll.
  • And the social and economic impacts of climate change are more keenly felt.

These challenges remind us that strong and trusted trading relationships deliver real and tangible improvements to people’s lives.

But whenever there are challenges, there are also opportunities.

Think of the opportunities that exist between our economies.

Australia has;

  • deposits of all the critical minerals and resources that are essential to energy security and the green energy transition,
  • cutting edge technology,
  • skilled workers and
  • stability.

I encourage you to look at investment opportunities between our two countries, which I know many of you here this evening are doing.

And for our part, we are working on the framework to make closer economic operation possible.

This is why we are working hard to conclude a trade deal with the European Union: To diversify our trade, give exporters a competitive edge, and create jobs.

We’re looking to business both in Australia and Germany to be vocal in support of such an agreement.

Achieving our ambitions will depend on those in this room — on both sides of the commercial relationship.

So it’s a pleasure to meet with you this evening.

I look forward to hearing from you about how Australia and Germany can work more closely in the years ahead.

Source : PM.GOV

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