The last 10 years has seen a strong shift from a 'surplus mentality', where exporting was simply protection against a slump in domestic demand, to a truly global focus. Overseas markets are now recognised by more and more managers, in companies large and small,-as a core part of their business. Increased jobs through Trade Liberalisation Trade liberalisation, and its contribution to export growth, means jobs for Australians. A 1996 ABS survey of the growth and performance of small to medium sized enterprises showed that a higher proportion of exporting businesses increased employment than non-exporting businesses. The main way in which exports create jobs is by increasing the rate of economic growth.
Exports are a vital component of economic growth.
Over the last five years, Australian exports have risen more than 33 per cent, and in the past year, more than half of Australia's economic growth was the result of growth in exports of goods and services. Today I want to say a few words about a subject that is closely linked in to the trade liberalisation debate. There have been suggestions that we should attempt to expand our export opportunities through entering into preferential regional trade agreements. I should stress that our experience with CER certainly has been very good, creating trade and investment opportunities and deepening economic integration. But there are few countries now with which we have a similar relationship.