Such dialogue is particularly important as we fine-tune APEC's work program and feed your input into the September APEC meetings in New Zealand. It is worth recalling at the outset the scale of what we are talking about. But before taking up these issues, I want to make some remarks on the continued need to explain the benefits of open markets to the wider community. At the APEC Trade Ministers' Meeting in Auckland last month, Australia sponsored a highly successful seminar on just this theme. The report sets out in straight forward terms why Australia must continue to be open to overseas investors wanting to play an active part in Australia's economic future, and why it is important that.
Australian businesses continue to seek opportunities overseas.
Foreign direct investment provides more than finance for development. It provides jobs - over half a million Australians work in firms with majority foreign ownership, and many more work in firms and communities that rely on foreign owned companies as customers and suppliers. The Government recognises some Australians are concerned about foreign ownership of Australian assets. It continues to have the power to block proposals that it decides are not in the national interest. As I have said many times, there is no such thing as a level playing field.