Chargé d'affaires Ms Amy Guihot remarks to event hosted by the Latin America Centre for Asia-Pacific Excellence
Victoria University of Wellington, 5 August 2024
E ngā mana, e ngā reo, e ngā iwi, e rau rangatira mā
Tēnā koutou, tēnā koutou, tēnā koutou katoa.
Good evening.
It’s a genuine pleasure to join you all today.
I want to first thank the Latin America Centre of Asia-Pacific Excellence and Dr Matthew O’Meagher for the invitation to speak this evening at the launch of their two latest commissioned research reports.
John Allen, Chancellor of Victoria University, thank you for the welcoming remarks.
I would like to also thank the report author, John Capper, and this evening’s discussion panellists, the Hon. Tim Groser, Jacqui Caine, and Professor David Capie. I am sure everyone is looking forward to what will be an interesting discussion.
I acknowledge the Ambassador of Chile, Her Excellency Ms Manahi Pakarati and other members of the diplomatic corps here this evening.
I’m delighted to have the opportunity tonight to discuss Australia’s broad interests with Latin America.
There are clear gains to be made – for both Australia and New Zealand – by establishing deeper ties with Latin America. The incentives for both countries to work closely together to form those connections are clear. And, in fact, we already collaborate a great deal on our shared interests in the region.
I’ll elaborate more on that later. But first, I think it’s important that I touch on why Latin America is important to Australia.
Why Latin America matters
Strengthening our partnership with Latin America matters for three main reasons.
First, Australia already has significant economic interests in, and with, Latin America.
Currently there are around 300 Australian companies active in Latin America with total investments worth over $28 billion in 2023.
That is more than our investment in India, Indonesia and Vietnam combined.
Latin American investment in Australia is also growing, with around $5 billion from Chile and Brazil alone.
Second, there is considerable scope for Australia to expand our investment and diversify our trade links in the region.
Our solid trade architecture, including through the CPTPP and free trade agreements with Chile and Peru, present opportunities to expand Australia’s agriculture, education and services exports.
There are also growing investment opportunities in critical minerals, renewable energy, infrastructure, and digital services.
The growing Latin American diaspora in Australia, now totalling over 250,000, is also playing an important role in forging two-way trade, investment and people-to-people links.
But Latin America is not just important to Australia because of its economic significance. The third reason Latin America matters is because of our shared interests and values in the multilateral system.
Latin American countries play an influential role multilaterally and are often likeminded on priority issues for Australia.
Whether at the WTO, the UN, APEC, or global climate change negotiations, what Latin America does in the multilateral system, including on rules, standards and norms, matters to countries like Australia.
And importantly, Australia and Latin American countries are aligned on priority issues, including on trade, climate change, democracy, gender equality and the rights of First Nations people.
As a result, there is considerable scope for Australia to work more closely with Latin American countries to progress these shared multilateral priorities.
Trans-Tasman Collaboration
So, what role should trans-Tasman collaboration play in our relationship with Latin America?
There are few countries in the world as close as Australia and New Zealand.
The beauty of our unique relationship is that what is good for Australia is generally good for New Zealand, and vice versa.
When we work together on the global stage, it benefits us both.
For example, economic security is deeply entrenched in both of our national interests.
As trade reliant economies – with trade representing almost half of Australia’s GDP and around 60 per cent of New Zealand’s – promoting trade is key to building the secure and stable economic future we both want.
Trade diversification remains central to Australia’s trade policy, and New Zealand is a critical partner for us in this effort.
In the Latin America region, Australia and New Zealand work closely through forums such as APEC, the WTO, the Cairns Group and CPTPP to execute common objectives on global trade liberalisation.
Australia and New Zealand also collaborate closely when engaging with Latin America on our shared interests and values in the multilateral system – such as democratic principles, human rights and gender equality.
Moving forward, as both countries develop their connections in in the region, it is critical that we continue to foster a strong trans-Tasman dialogue on Latin America.
Events such as this – which encourage policy contestation and bring new ideas to the table – are always welcome.
I would like to congratulate the Latin America Centre of Asia-Pacific Excellence on the release of its two newest reports.
I am grateful to have been invited tonight to share Australia’s perspectives and priorities. And I am looking forward to what I’m sure will be a very thought-provoking discussion this evening.
Thank you
